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[Music] so here we will start with the strategic alliance so we've already saw the mergers acquisition and joint venture so in all these uh three ways a company what it does is it enters into a legal agreement with another company so in merger two companies combine combine together and create a new company in acquisition one company buys out another company in joint venture uh company a and company b together they contribute equal capital in a new company called as company a b so that is called as joint venture so in all these three types of ways it is a very serious kind of a legal agreement between two companies so if they don't want to enter into kind of a legal agreement okay they just want to test whether uh how their collaboration will work see that kind of a loose partnership can be called as a strategic alliance so in strategic alliance there is no like legal agreement okay there is no like mutually binding things that both companies have to uh necessarily do it so there's no...