Page 77 - 100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

In practice

• Avoid any unethical or illegal business practices that can be

associated with corporate partnerships, such as price fixing.

• Assess, in depth, the specific terms and implications of the

partnership agreement. Will your partner get more out of it than
you, and is it worth your while?

• Be wary of forming partnerships in situations that will allow

your rival to benefit at your expense, gaining the resources to
out-compete you in other areas of the industry.

• Structure and plan the partnership process carefully—

negotiation, communication, and integration are vital, especially
in the initial stages of an alliance.

• Be ready to expand the alliance to a range of other companies

when desirable to do so.

70 • 100 GREAT BUSINESS IDEAS