Biоmed, а smаll Cаnadian firm, has created a valuable new medical prоduct using its unique biоtechnology know-how. It is now trying to decide how best to serve the European Union. Its choices are: manufacture the product in Canada and let European sales agents handle marketing; manufacture the product in Canada and set up a wholly owned subsidiary in Germany to manage the marketing; or enter into a strategic alliance with a large German pharmaceutical firm. The product would be manufactured in Germany by the 50/50 joint venture and marketed by the German firm. The cost of investment in manufacturing facilities will be an expensive move for the Canadian firm, but it is not outside its reach. If these are the firm's only options, which one would you advise it to choose? Why?