Strategic alliances are relationships between two or more individuals or businesses that are mutually beneficial for everyone involved. Some businesses will form strategic alliances with businesses that can help them to meet their needs. For example a business that sends products around the world may form a strategic alliance with distribution companies or manufacturers. Most of these alliances involve sharing and transferring knowledge so that everyone involved benefits from any transactions.
Many of the strategic alliances that are in existence will have contracts drawn up in order to ensure that all parties behave in a way that will benefit everyone in the alliance.