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Everybody has a story about a partnership or business alliance that has fallen apart. Unfortunately, it is a somewhat common occurrence. Yet entering into alliances with other businesses or individuals can greatly expand a company's opportunities and markets. This SkillBite discusses how to build durable partner relationships through addressing critical issues, such as responsibilities, compensation structures and exit strategies. Discussion of these issues builds a common understanding, enhances alignment and teaches the parties how to deal with other issues that may come up, thus building durable partner relationships. The book covers the following topics:i How to investigate a prospective partner prior to entering into a business alliance;i What are the key business issues to address up front or as early as possible in the life of the partnership; andi What are the critical legal issues to include in a partnership agreement to protect yourself in the event that the partnership doesn't succeed.
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