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Companies across various industries form strategic alliances 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 objective, often without establishing formal ownership ties. In contrast, collaborative agreements with shared ownership are known as joint ventures, which create a jointly owned independent corporate entity. While joint ventures can offer greater durability due to shared interests, they also present higher risks. Notably, many alliances fail to meet expectations, with estimates suggesting that up to 60% do not achieve their intended goals.
