Use of Assets 资产的使用
When companies allow others to use their assets, such as trademarks, patents, copyrights, or expertise under contracts, also known as licensing agreements, they receive earnings called royalties.
On an international level, for example, Lucasfilm has licensed The Lego Group from Denmark to use its trademarked Phantom Menace figures in Mindstorm construction toys. Royalties also come from franchise contracts.
Franchising is a mode of business in which one party ( the franchisor ) allows another party ( the franchisee ) the use of a trademark that is an essential asset for the franchisee`s business. The franchisor also assists on a continuing basis in the operation of the business, such as by providing components, mangement services, and technology. 特许经营是一种商业模式，在其中一方(特许人)允许另一方(被特许人)商标的使用是一项重要资产，是成为加盟商的业务。特许人在业务继续运作的基础上还协 助有关业务操作，如提供组件，管理服务和技术。
Dividends and interest paid on foreign investments are also treated as service exports and imports because they represent the use of assets ( capital ). However, countries treat the investments themselves separately in the international economic statistics they report.红利和外国投资的利息也被当作服务出口和进口因为它们代表使用资产(资金)。然而,国家的投资分别对应本国在国际经济统计数字的报告。
Foreign investment means ownership of foreign property in exchange for financial return, such as interest and dividends. Foreign investment takes two forms: direct and portfolio外国投资意味着拥有外国资产的所有权,以换取经济回报,如利息和红利。外商投资以两种形式:直接投资和有价证券。
Direct Investment 直接投资
A direct investment is one that gives the investor a controlling interest in a foreign company. Such a direct investment is also a foreign direct investment ( FDI ). Control need not be a 100-percent or even a 50-percent interest.
If a company holds a minority stake and the remaining ownership is widely dispersed, no other owner may be able to counter the company effectively. When two or more companies share ownership of an FDI, the operation is a joint venture. When a government joins a company in an FDI, the operation is called a mixed venture, which is a type of joint venture.
Companies may choose FDI as a mode to access certain resources or reach a market.
Today, about 60,000 companies worldwide have FDIs that encompass every type of business function – extracting raw materials from the earth, growing crops, manufacturing products or components, selling output, providing various services, and so on.
FDI is not the domain of large companies only. For example, many small firms maintain sales offices abroad to complement their export efforts, which are FDI along with the real estate they own abroad. However because large companies tend to have larger foreign facilities and operate in more countries, the value of their FDI is higher.
Porfolio Investment 有价证券投资
A portfolio investment is a noncontrolling interest in a company or ownership of a loan to another party. Usually a portfolio investment takes one of two forms: stock in a company or loans to a company or country in the form of bonds, or notes that the investor purchases.
Foreign portfolio investments are important for most companies that have extensive international operations. Companies use them primarily for short-term financial gain, that is, as a means for a company to earn more money on its money with relative safety. Company treasurers routinely move funds among countries to get higher yields on shortterm investments.