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Companies across various industries are forming strategic alliances and partnerships to enhance their resources, capabilities, 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 goal, often outlined in a contractual arrangement but typically lacking formal ownership ties. In contrast, joint ventures are collaborative agreements that involve the creation of an independent corporate entity, jointly owned and controlled by the partnering companies. While joint ventures tend to be more durable, they also carry higher risks. Notably, many alliances do not meet expectations, with estimates indicating that up to 60% fall short.
