What is the fundamental difference between a licensing agreement and a joint venture as related to the Disney theme parks?

1. What is the fundamental difference between a licensing agreement and a joint venture as related to the Disney theme parks?

2. Why did the Walt Disney Company opt for a licensing agreement for Tokyo 
Disneyland?

Please read the attached file . all answers are in there. 0% plagiarism and on time please.

Single space . total 1 and half page . Divide the portion for both answers into 50/50.

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