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Companies across various industries are forming strategic alliances to enhance their resources and competitiveness in both domestic and international markets. A strategic alliance is a formal agreement between companies to work cooperatively towards common goals, often without formal ownership ties. When partnerships involve shared ownership, they are termed joint ventures, which create an independent corporate entity jointly controlled by the partners. While joint ventures are usually more stable due to shared ownership, they also carry higher risks. Notably, a significant proportion of strategic alliances fail to meet expectations, with estimates suggesting that as many as 60% do not succeed.
