September 12, 2014
In my LinkedIn Discussion group, Successful Business Partnerships, my colleague, Marian Banker brought to light an article by Ivan Hoffman, Esq., on “The Strategic Alliance.” One of the key aspects of an alliance is its flexibility – it can be whatever you want it to be. But that flexibility mean that you need to define those parameters. In writing. Because there is no exact legal relationship (like there is in forming a corporation or LLC), it’s up to the parties to define the legalities of their relationship by contract. What should you include in a strategic alliance agreement? Hoffman suggests you spell out: The nature and purpose of the relationship The term (length of time) you want it to be in place Participation rights — who’s entitled to what and when. I’d also recommend that you pay particular attention to two key issues: Money. How will the money flow? Usually, because a strategic alliance is not a company unto itself (it’s two or more independent companies collaborating), it doesn’t have its own bank account. So if…
Continue ReadingIs it possible to use leverage to sell your business? It certainly is—if you know what you’re doing. Leverage is all about getting good, strong positive results that aren’t dependent completely on you, as the…
Read MoreA recent study has found that when companies are linked in a network of strategic alliance relationships with only a few degrees of separation, they are more innovative. Jointly conducted by the University of Washington…
Read MoreI subscribe to SUCCESS magazine and re-read a little snippet from Shawn Achor—also known as “The Happiness Guy.” He wrote about a business woman who was losing her mind. Spending hours worrying about different aspects…
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