Final answer:
General Mills' payment to Sodima for the rights to sell Yoplait in the U.S. is an example of licensing, which is a business agreement allowing the use of intellectual property for a fee.
Step-by-step explanation:
The agreement between Sodima, a French cooperative, and General Mills, where General Mills pays for the rights to sell Yoplait yogurt in the United States, exemplifies a licensing arrangement. In licensing, the licensor (Sodima) grants the licensee (General Mills) the permission to utilize its intellectual property, such as the Yoplait brand, in exchange for a fee or royalty.
This is distinct from franchising, which typically involves a more comprehensive package of support and control, including operational guidance and ongoing assistance. It also differs from joint ventures, where two or more parties collaborate in a shared business endeavor, and direct investment, which involves establishing or purchasing operations in a foreign country. In this licensing scenario, General Mills gains the right to market and sell Yoplait products without the broader involvement seen in franchising or joint ventures.