I think you are right, Ted. They have to pay taxes

I think you are right, Ted. They have to pay taxes in India, and therefore have to have a company entity registered there that pays the taxes. The JV is just a vehicle for the entities to work together. Had it been a new deal, there might have been a new license fee, as you say.

Qamronics (who that that up? UGH!) is an entity between AMTRON and Amtronics for business in Assam. I would think they might want a different entity or enttities for doing business with the rest of India. Each India state might want to have its own AMTRON.