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Companies across various industries are forming strategic alliances and partnerships to enhance their resources and competitiveness in both domestic and international markets. A strategic alliance is a formal agreement between two or more companies aimed at achieving a common objective, often through collaborative relationships that may include contractual agreements, though they usually do not establish formal ownership ties. In contrast, collaborative agreements with shared ownership are termed joint ventures, which create a jointly owned independent corporate entity. While joint ventures tend to be more enduring, they also carry greater risks. Notably, many alliances fail to meet expectations, with estimates suggesting that up to 60% do not succeed.
