We believe that there are four stages a company needs to traverse in it relationship with a Foreign Business Partner. We define them as (1) Business Justification for a Foreign Business Partner; (2) Background and Due Diligence Investigation of the proposed Foreign Business Partner; (3) Evaluation of the Due Diligence and engagement with appropriate contractual terms and conditions; and (4) Management of the Foreign Business Partner after the contract is signed. This article will discuss the concept of a Foreign Business Partner Review and Oversight Committee in Step 4, the management of a Foreign Business Partner.
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