International Business English6.Portfolio investment证券投资: Purchases of foreign financial assets for a purpose other thanLesson 1controlling.International Business/国际商务7.Stocks股票: Capital stocks or bonds.8.Bonds债券: The papers issued by a government or a firm with promise to pay back the moneyBusiness Knowledge:lent or invested together with interest. The major differences between international business and domestic business9.Maturity法律体系（票据等）到期A.Differences in legal systems10.Differences in currencies B.货币Certificate of deposit大额存单11.Licensing许可经营C.Differences in cultural background : In licensing, a firm leases the right to use its intellectual property to a firmin another country. They choose licensing because they do not have to make cash payments to Different in natural and economic conditions D.stat business, and can simply receive income in the form of royalty（许可费）.The major types of international business12.Franchising特许经营: Under franchising, franchisee is A. Tradeallowed to operate in the name ofanother, franchiser who provides the former with trademarks, brand names, logos and operating 商品贸易 a. Commodity trade techniques for royalty. b.Service trade13.Trade MarkB. Investment商标14.Patent专利a.Foreign direct investment15.Royalty专利（许可）使用费，版税b.Portfolio investment 证券投资16.Copyright版权C. Other types17.Licenser许可方Licensing and franchising a.许可经营和特许经营18.Licensee管理合同和承包生产b.Management contract and contract manufacturing 被许可方19.Turnkey project and BOTFranchiser特许方: A firm who provides the franchisee with trademarks, brand names, logosc.and operating techniques for royalty.Trade Terms:20.关税区1.Customs area: Franchisee被特许方: A firm is allowed to operate in the name of another.21.Conversion2.货币兑换Management contract管理合同: Under a management contract, one company offers managerial or other specialized services to another within a particular period for a flat payment of form : trade3.Visible 有形贸易The importing goodsand i.e. commodity trade, exportingor a percentage of the relevant business volume. produced or manufactured in one country for consumption or resale in another. (including cash22.V alue chain价值链transaction-by means of money and market, and counter trade)23.banking, communication, transportation, form The : tradeInvisible 4.无形贸易of insurance,Turnkey project“交钥匙”工程: For an international turnkey project, a firm signs a contractwith a foreign purchaser and consulting, information etc. is called invisible trade or service industries.undertakes all the designing, contracting and facility equippingbefore handing it over to the latter upon completion. 5.FDI外国直接投资: Foreign direct investments. Returns through controlling the enterprises or24.BOT建设、经营和移交: Build, Operate, Transfer One country acquires assets in a foreign country for P.256.assets invested in a host country. /专门知识the purpose of controlling and managing them. Expertise25. 126.Bonus红利、奖金、津贴4.Please elaborate（详细说明）on the two categories （种类）of international investment.27.Royalty 许可使用费What is their major difference?: Supplying capital by residents of one country to another. 国际投资International investment28.A: FDI (Foreign direct investment) is made for returns through controlling the enterprises or assetsinvested in in a host country. 29.Contract manufacturing承包生产/ 30.GATT关贸总协定: General Agreement on Tariffs and Trade外国直接投资：通过控制其它投资在他国的企业和资产获得回报。
Portfolio investment refers to purchases of foreign financial assets for a purpose : 31.International business国际商务Transaction between parties from different countries.other thancontrolling. Such financial assets may be stocks, bonds or certificates of deposit.Sometimes business across the borders of different customs areas of the same country is also/ 证券投资：不以控制为目的而购买外国的金融资产，如：股票、债券和定期存款单。
regarded as import and export. Intellectual property知识产权32.5.What is licensing? Why do firms sometimes choose it as a means of entering a foreign= oil reservesOil deposit: 33.石油储备market?the reserves of natural resources 自然资源储备34.A: In licensing, a firm leases the right to use its intellectual property to a firm in another country./ 国际许可即：一家公司允许国外的公司使用它的知识产权。
个人的晋升，个人素质的提高以及个人事业的进步等。
Personal advancement 35.They choose licensing because they do not have to make cash payments to stat business, and can Answer the following questions:simply receive income in the form of royalty. 可直接收取知识产权费，不必现金开办新业务What does international business refer to? Please tell the difference between international1.Besides, they can benefit from locational advantages of foreign operation without any obligations business and domestic business.in ownership or management. 享有当地经营优势，而在所有权和经营上不承担义务International business refers to transaction between parties from different countries. Sometimes A:The use of licensing is particularly encouraged by high customs duty and non-tariff barriers on business across the borders of different customs areas of the same country is also regarded as importthe part of the host country. 当东道国的关税高或非关税壁垒多时，国际许可经营更受欢迎。