Offshoring Is Moving Processes to Markets That Are Closer to Home

question 24

True/False

Offshoring is moving processes to markets that are closer to home in order to minimize transportation and management costs.

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Definitions:

Patent Rights

Legal rights granted to an inventor or assignee to exclusively exploit an invention for a certain period of time.

Goodwill

An intangible asset that arises when a business is purchased for more than the fair value of its net assets.

Fair Market Value

The price that property would sell for on the open market, reflecting the amount a knowledgeable, willing, and unpressured buyer would pay to a knowledgeable, willing, and unpressured seller.

Acquisition

The process by which a company obtains control over another company, either through a purchase of shares, assets, or both.