If you are looking for the opportunities international expansion will bring, you’ll need to educate yourself about your options and the responsibilities involved. Attorney Louis Dejoie, who specializes in international law, provides some insight into this process.
As you formulate your business plan, decide which of these options will be the best fit:
- simple export sales where foreign buyers come to you in the United States
- a distributor or agent in a foreign country to solicit sales
- a branch office or a foreign subsidiary and hire local employees
When you’ve established what level of involvement is best-suited for your organization, here are a few of your next steps:
- Check U.S. export controls
- Learn about international contract laws
- Protect your trademark
In addition to all the compliance requirements, it is essential that you develop an understanding for the culture and how business is done there. DeJoie writes, “The American way of doing business might not work in other lands. In many countries you must develop personal relationships first. You might need to “adapt and adopt” your product to local markets to be successful.”
For more information, see the full article from Supply Chain Management Review.