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What force does Manne indicate constrains the actions of managers so that they stay focused on the goals of owners?
Traded Commodities
Goods or raw materials that are bought and sold on commodity exchanges or the open market.
Extraterritorial Application
Laws or legal mandates that are applied beyond the territorial boundaries of the jurisdiction that created them.
Licensing Arrangement
A legal agreement allowing one party to use another's property, such as intellectual property, under certain conditions.
Foreign Legislation
Laws or regulations that are enacted by a governing body outside of one's own country.
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