text: the actual outlook of the entrepreneur. In tact. the substitutive effects over local developments Is Implicit more In the structure of the market than In the transfer of technology per se. The substitutive nature Is a factor related to the source of capital of the firm. A firm's capability of generating Its own technological developments over time Is Inversely proportionate to the market share of transnational companies, who, In their particular area exclude the possibility of producing or asslml latlng Innovations which come from a store of Imported technical knowledge. This exclusion Is seen In branches of Industry where subsidiaries control marginal sections of the market. In these cases, It does not have a direct effect on local firms, but on the use of technologies developed Internally. That Is, It has an effect not only on sectors where there Is no local t~chnlcal capabl I tty. but also where firms are working with their own techniques, as we can see In branches dominated or directed by local firms. What is more, the exclusive effect of transnational firms tends to be accentuated over time, since their licensing contracts are maintained for long periods without a logical assimilation process of Imported techniques. This _exclusion occurs more frequently In branches where local production Is Instigated by a transnational company, since the structure of a sector tends to develop on the lines of Its origins. That Is, It Is In the early development of a particular Industry that the potential to develop technological capacity J~es. IV. THE CREATION OF LOCAL TECHNOLOGY AND LICENSING. AGREEMENTS. Up to this point. much of the attention has been devoted to a retrospective analysis of the Interaction between technological licensing and local creation. There stll I remains a question as to whether It Is possible to achieve a break from the dependency 
analysis: The text appears to be discussing the impact of transnational companies on local technological development and innovation. It highlights the exclusivity of technological knowledge and the potential for dependency on imported techniques. The text also touches on the importance of internal technological development and the limitations of licensing agreements. Given the focus on technological development and innovation, it is likely that the text is related to the field of economic development and science and technology.