Final answer:
One thing a company can do if it needs to acquire proprietary technology but does not have the available skills and resources associated with developing the technology is to purchase a license or enter a joint venture.
Step-by-step explanation:
If a company needs to acquire proprietary technology but does not have the available skills and resources associated with developing the technology, one option is to purchase a license. Purchasing a license allows the company to legally use the proprietary technology without needing to develop it themselves. This can be a cost-effective solution as it saves the company time and resources that would otherwise be needed for research and development.
Another option a company can consider is to enter a joint venture. In a joint venture, two or more companies collaborate to develop or acquire the technology together. This allows the company to leverage the skills and resources of other firms to acquire the proprietary technology.