Company$-$owned subsidiary is

a representative office of the focal firm that handles marketing, physical distribution, promotion, and customer service activities in the foreign market

accomplished by contracting with intermediaries located in the firm's home market

typically achieved by contracting with intermediaries located in the foreign market

a foreign intermediary that serves as an extension of the exporter, negotiating on behalf of the exporter and assuming such responsibilities as local supply$-$chain management, pricing, and customer service