Timer, a U

question 116

Multiple Choice

Timer, a U.S. based watchmaker, recently entered into a partnership agreement with an Australian firm to make watches. According to the terms of the agreement the firms agreed to pool resources and share losses. What type of partnership agreement does this situation most likely represent?

• A) Franchising
• B) Licensing arrangement
• C) Strategic alliance
• D) Joint venture
• E) Direct ownership arrangement

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Definitions:

Financially Exploit

The act of using someone or something in an unfair manner for monetary gain.

Family Member

An individual who is part of an extended or immediate family, including parents, siblings, spouses, and children.

Ethnic Group

A community or population made up of people who share a common cultural background, ancestry, language, history, and sometimes physical characteristics.

Poor Health

A state characterized by ill health or a low level of well-being, where one might experience illness, disease, or a reduced ability to engage in activities of daily life.