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A partnership, what does that mean

A partnership, what does that mean?

18 September 2018 - 13:37

A lot of companies say they are partners, but when we start to look at these partnerships more closely, we realize that they can have a very different nature. is true that it can be confusing whether they are partners or suppliers. It is however crucial to clarify the alliances we create with other players in the market.

The partnership relationship

A partnership means that both parties have their own interest in collaborating, and it goes further than a simple sub-contractor relationship. This interest can be knowledge, reputation, technological developments,… Both parties know exactly why they are in it and feel stronger thanks to this alliance. When establishing a partnership, it is important create a climate of confidence. It is also true that a relationship is often richer if knowledge is being transferred. Before doing so, it is crucial to formalize the alliance in a comprehensive and clear partnership contract.

Our strategy experts at lifetech.brussels can help you with determining which partners can make sense for your project or assist in formalizing a partnership.

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