Uber and Spotify have teamed up to create their “Soundtrack for Your Ride” campaign. Each brand has based itself on the technology of others to offer customers an exceptional experience. While waiting for their Uber journey to arrive, passengers will be able to log into their Spotify accounts and drive the playlist they`ll hear during their trip. That is also why the various strategic partnerships we mentioned in this article exist between some of the biggest names in the industry. Cooperation in a strategic partnership has worked for major players such as Nokia and Microsoft, and with careful planning, it can also work for your business. It`s about taking the leap and saying, “I`m doing” a strategic partnership agreement. Such an agreement could exist between a digital marketing agency and a graphic designer, a web designer, a database management company or an Internet service provider and an e-mail provider, to name but a few of the many possibilities. Now let`s look at each of the five types of strategic partnership agreements. A joint venture may lead to the creation of a new independent entity or intervene exclusively on the basis of an agreement between existing companies without the creation of a new legal entity. The latter is called a non-communal joint venture. One of the most obvious places to see strategic buying partnerships in action is the film industry.

If you`ve ever noticed that most of the films list different companies that, curiously, were called before the film`s launch, it`s because movies are usually made using a supply-chain method. A relatively small production house will provide rotation and post-production, and a larger studio will finance, market and distribute the film. Think of J.J. Abrams` Bad Robot and Paramount Pictures, which have such a partnership agreement. If reducing the likelihood of a cultural conflict is the “main transition” to a joint enterprise agreement, then contracts for relationships, trust and respect should make it even more viable. Is your company in a strategic partnership? Tell us how it works for you in the comments below. We look forward to your success in your strategic partnership. A joint venture is a cooperation agreement between two or more companies, which is often creating a new business.

Whether you`re a start-up or a growth company, there are many reasons to enter into a strategic partnership agreement. At least a strategic partnership will create added value for your product or service by expanding what you have to offer. A strategic partnership can even be a proverbial “match made in heaven” if the two parties involved replicate well enough. Partnership agreements are important, since any partner can be held fully responsible for the company`s action and can unilaterally make business decisions without the agreement of other partners, unless otherwise required by the partnership agreement.