You want to set up an overseas operation, but what is the right structure for your business?
Popular for IT development and other services using emerging and lower cost countries. An external supplier is selected and given complete responsibility for a project. This can work well for both short and long-term projects for small businesses but, if intellectual property rights are a concern, this approach can sometimes be high risk.
Setting up a joint venture with a local company overseas allows you to take advantage of their local knowledge and experience and reduces the risks of working in unfamiliar territory. The trick is finding the right partner and building trust. Be aware that it is normally far easier to start a relationship than end it.