Question

Sphericals, Inc. approach to international markets is to grant a foreign entity the right to produce and sell the firm's product in return for a royalty fee on every unit sold. Sphericals, Inc.'s approach is called

Answer 1

Sphericals, Inc.'s approach is called Liscensing.
In liscensing method, the foreign companies will had the full freedom to determine what marketing method that they use and the resource management while the owner of the licensing will receive some percentage of the sales at each period.