A strategic alliance agreement is a contract between a business that is working with another business. The agreement may be used if a company is forming an alliance with another company, but is not creating a joint venture. The companies may be still viewed as individual entities after they sign the agreement. With this agreement, the companies agree they may combine their resources and collaborate on a project together.
The agreement may cover the scope and goal of the project, the obligations of each company, how long the agreement shall be for, and how the two businesses shall handle any incurred taxes, fees, and costs. These documents can be used for collaborating on a product together, such as two electronics companies working on a new computer chip.
They can also be used for sharing a supplier and other resources. Using these contracts fosters business growth and lets companies use each other strengths and talents well.