Modes or means or ways of entering into international market 1. Indirect Export and direct expert 2. Licencing 3. Franchising 4, Joint venture 5. Turn key contract 6. Foreign direct investmentModes or means or ways of entering into international market * Indirectexport: Indirect exporting refers to selling to an intermediary, who later sells the goods or services either directly to importing wholesalers or to customers. It could also be a sale by the exporter to the buyer via a locally located intermediary, such as an export trading company or an export management company * Direct export: Direct exporting is the method of exporting goods directly to the foreign buyers by the manufacturer himself or through his agent situated in the foreign country.Modes or means or ways of entering into international market * Licencing: Licensing is a business arrangement in which one company gives another company permission to manufacture its product for a specified payment. * Licensing is defined as a business arrangement, wherein a company authorizes another company by issuing a license to temporarily access its intellectual property rights, i.e. manufacturing process, brand name, copyright, trademark, patent, technology, trade secret, etc. for adequate consideration and unde! specified conditions.Modes or means or ways of entering into international market * Franchising: Franchising is a contractual agreement that takes place between Franchisor and Franchisee. Franchisor authorizes franchisee to sell their products, goods, services and give rights to use their trademark and brand name. And these franchisee acts like a ealer. * In return, the franchisee pays a one-time fee or commission to franchisor and some share of revenue. Some advantages to franchisees are they do not have to spend money on training employees, they get to learn about business techniques.Modes or means or ways of entering into international market * Joint venture: Joint venture is a business entity created by two or more parties, generally characterized b shared ownership, shared returns and risks, and shared governance. * Joint Venture can be described as a business : arrangement, wherein two or more independent firms come together to form a legally independent undertaking, for a stipulated period, to fulfil a specific purpose such as accomplishing a task, activity or project. In other words, it is a temporary partnership, established for a definite purpose, which may or may not uses a specific firm name.Modes or means or ways of entering into international market * Turnkey contract: A turnkey project is a contract under which a firm agrees to fully design, construct and equip a manufacturing/ business/service facility and turn the project over to the purchaser when its ready for operation, for a remuneration. * Turnkey Contract is one under which the contractor is responsible for both the design and construction of a facility. The basic concept is that in a Turnkey Contract the contractor shall provide the works ready for use at the agreed price and by a fixed date.Modes or means or ways of entering into international market * Foreign direct investment: Foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. * Foreign direct investment (FDI) is an investment made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets in the other country, such as ownership or controlling interest in a foreign company.