The ________ arrangement between Ericsson, a Swedish telecommunications firm, and CGCT, a French switch maker, enabled them together to beat out AT&T for a $100 million French contract.

A) franchising
B) licensing
C) joint venture
D) direct investment
E) exporting

Joint Venture

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task.

Telecommunications Firm

A company that provides services in telecommunications, such as phone services, internet access, and cable TV.