A strategic relationship agreement is a legal contract between two or more parties who form a strategic alliance in order to achieve a common business goal using their resources jointly for the success of the alliance. A strategic alliance can be formed with any suitable party which commits to synergy of the organization and this is done in order to overcome any shortcoming in the processes of the organization or to cut cost or to achieve an edge over some competitor in the market.
Whatever the objective be a strategic relationship agreement should be well researched and negotiated and should include the roles and responsibilities of each strategic partner, the timelines for achieving the goals, the remuneration of each partner in lieu of efforts poured in, the dispute handling mechanism and mechanism to avoid any conflict. This type of alliance should be formed so that the partners complement each other and strive to achieve a common objective successfully.
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