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Companies across various industries form strategic alliances and partnerships to enhance their resources and capabilities, boosting competitiveness in both local and global markets. A strategic alliance is a formal agreement between two or more firms to work together towards common goals, often without formal ownership ties. Collaborative relationships may involve contractual agreements, while joint ventures entail shared ownership and the creation of a separate entity controlled by multiple companies. Joint ventures are typically more long-lasting but carry higher risks compared to other partnership arrangements. It's worth noting that a significant number of alliances fall short of expectations, with some estimates suggesting that up to 60% of them do not succeed.