What is a strategic alliance? 

A strategic alliance is an agreement between two or more firms to engage in an
activity on a shared basis. The outside activities of each Partner are not affected by
the strategic alliance, which is designed to build on the expertise of each member
and the way in which they complement each other.Strategic alliances are generally
less formal than joint ventures and not as encompassing and may often be designed
 to last for a limited time.Partnering is an idea that is loosely used to describe anything
 from teamwork to strategic alliances to contractual partnerships.As I define it, it is the
process of two or more entities coming together for the purpose of creating synergistic
solutions to their mutual challenges.I recommend that you adopt strategic alliance
agreements as a key part of your overall business strategy.The benefits are numerous,
 yet the strategic alliance path is not without its own set of obstacles and surprises.
Creating a strategic alliance agreement is not meant tobe a flavor-of-the-month management
strategy to be hastily adopted and then as quickly abandoned.It is a rather long-term
paradigm for success.