An Agreement Between Two or More Firms That Do Not

question 41

Multiple Choice

An agreement between two or more firms that do not involve the creation of a separate entity with joint ownership and in which the firms stand to gain revenues and maximize profits through cooperation for a given period of time is called a(n) _____.

• A) license
• B) franchise
• C) foreign acquisition
• D) strategic alliance
• E) export-import business

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Definitions:

Debts Incurred

The financial obligations or liabilities accumulated over time by an individual, organization, or country as a result of borrowing money or obtaining goods and services.

Independence

The condition of a nation, country, or state which exercises self-government, and sovereignty, free from external control.

Ware v. Hylton

A 1796 U.S. Supreme Court case that determined that treaties made under the authority of the United States have precedence over state statutes.

Supreme Court

The Supreme Court is the highest federal court in the United States, having the ultimate judicial authority to interpret and decide upon constitutional issues, serving as a crucial arbiter in the American legal system.