Buyer-seller relations can take on many forms, but it’s when they evolve into partnerships that they allow for the leanest supply chains and the highest profits. Such alliances, called channel partnerships, allow buyers and sellers to work together to find distributors and add the most value to their supply chain.
A large concern for those looking to enter into a strategic partnership is intellectual property (IP) ownership. Protecting your intellectual property – which can easily be the lifeblood of any partnership – is often of the utmost importance to many business executives. Here I will discuss the reasoning behind intellectual property protections as well as the roles they play in partnerships and business success.
Strategic partnerships are vital to business growth – 85 percent of business executives agree. While partnerships are traditionally thought of as alliances between businesses with complementary, but not identical, services, partnerships between industry competitors can be just as effective.
“In today’s competitive world of brand marketing, using the power of marketing partnerships to gain exposure and utilize new distribution channels is not only smart but also an essential marketing tool for businesses who want to remain competitive in today’s constantly changing marketplace.
The average business spends less than 5 percent of its revenue on research and development (R&D). As vital as researching the development of new products and services is to long-term success, the costs and risk involved in such initiatives often limit businesses from investing in their longevity.