Formal or informal agreements between two companies to support each other through the combination of products and or services.
An effective partnership has the ability to have each organization achieve its goals, while it also has the ability to have each bring its speciality to the table. Two heads are better than one.
POINTS TO PONDER - Ending a legal business partnership can be like going through divorce.
Like a marriage that starts out with good intentions, the procedures and maneuvering to terminate such an agreement can be long, emotional and costly. Partnerships should be a slow, meaningful courtship and towards a meaningful, long term relationship.
Be careful, I've seen to many close freindships destroyed after forming business partnerships.
Through this partnership, what do we each hope to achieve? What are our unique aspects?
Should this not achieve the goals we seek, what remedies have we put in place?
What are the checks and balances in place to make sure things are done in a just and fair way?