Brotherly Alliances, Engines of Growth
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Alliances are making a strong comeback, and companies have more realistic expectations about what they can achieve. A smaller company with an innovative product or technology to protect, however, needs to create a process for determining whether to trust a potential partner, including doing due diligence into the potential partner’s behavior in past alliances. To collaborate effectively, partnering companies need to design a process for scoping out the strategic, financial and operational details even before deciding what legal form the partnership will take. In addition, they should set up metrics to assess progress on their goals and communication between teams.