The vast Chinese market has always attracted foreign companies, but very few have been able to capitalize on the opportunities the country affords. That failure can be attributed in large part to the traditional investment vehicles available to foreign companies, all of which create complexities and conflicts that hamstring businesses. Now, one company, Eastman Kodak, is pioneering a new corporate structure in China—one that looks very similar to Western organizations.

A version of this article appeared in the July–August 2000 issue of Harvard Business Review.