Strategic partnership

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A strategic partnership is an alliance between two parties (frequently one corporation that provides engineering, manufacturing or product development services, and one smaller, entrepreneurial firm or inventor) to create a specialized new product. Typically, the large firm supplies capital, and the necessary product development, marketing, manufacturing, and distribution capabilities, while the small firm supplies specialized technical or creative expertise. Issues such as co-inventorship or technology transfer should be reviewed separately for applicability to the partnership.