Economics and Management
In economics, internalization can refer to the practice of multinational enterprises (MNEs) to execute transactions within their organization rather than relying on an outside market. It must be cheaper for an MNE to internalize the transfer of its unique ownership advantages between countries than to do so through markets. In other words, the alternative to internalization through direct investment is some form of licensing of the firm's know-how to a firm in the target economy.
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