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Your team knows that in terms of real world experience, particularly on an international basis, you are lacking the necessary experience. You also recognize that as a start-up business, you will be limited in your financial resources. You have read in the news that more and more companies (whether domestic only or global) are moving toward forming joint ventures or different kinds of distribution agreements.
1. Generally speaking, what are the pros and cons of setting up joint ventures when trying to penetrate, distribute, and manufacture globally? Do you think you may go down this road for your new company? Why or why not?
2. Specifically in terms of design innovation, compare and contrast the pros and cons of establishing a JV with a design firm in the United States and in Germany (or England) versus developing new innovative products on your own.
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