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A strategic alliance agreement is an agreement between two different independent companies who come together to share their resources, core competencies, and capabilities for their mutually beneficial project.
The components of a strategic alliance agreement depend on the terms and conditions of both companies. However, there are a few essentials that need to be included:
This section provides the details about the parties for whom this strategic alliance agreement is drafted - partner 1 company, partner 2 company, and their strategic alliance details.
Mention the necessary steps taken to perform the services by both partners. You can also mention what are the services that will be included in the strategic alliance agreement so that both companies involved will be on the same page. For instance - you can specify the services listed below:
The parties agree to perform the following services when they enter into a strategic alliance agreement:
In this section, both parties have to provide the details regarding the appointment of the individual; who will be taking care of the management, corporate strategy, and delivering the services. For instance - you can mention the appointment listed below:
The following individuals are hereby appointed as representative managers for each of their employers:
This section explains that both parties have agreed to enter into a partnership agreement and have formed strategic alliances. You can also state the following conditions for the partnership:
In this section, both parties agree to not trade and delegate the strategic alliance or business strategy to any of the third parties.
Mention the confidentiality clause which states that both parties agree to keep all the information, documents, etc., related to this strategic alliance agreement strictly confidential. Any information that has to be conveyed to the other partner must be in the form of a written notice to avoid any legal consequences.
Specify the time period for which this strategic alliance agreement will commence, and also the termination date.
Mention the necessary agreement terms - severability, arbitration, etc., that are required for this strategic alliance agreement to avoid any future conflicts between the involved parties.
This is the final section where both parties agree to the above terms and conditions. The parties acknowledge the strategic alliance agreement by signing and making this agreement legal.
Make sure the strategic alliance agreement is drafted in a crisp manner, and write shorter sentences.
The business alliance agreement should include necessary clauses that both parties agree to. This provides clarity to both companies before signing the agreement.
Ambiguous language creates confusion and misinterpretation. A sentence that creates willful misconduct from the legal perspective can lead to unexpected consequences. Make sure to draft the legal documents carefully.
Revv is an all-in-one document automation system and an eSignature platform. Its product features help in drafting legally vetted agreements as per the requirements of the company.
Revv’s carefully drafted templates work for every business's need. You can now draft your agreement and customize it in a manner that fits your company. These templates avoid the hassle of drafting the agreement from scratch.
With Revv’s drag-and-drop editor feature, you can easily edit the text or add new text, and add images, page breaks, etc., to create an effective agreement.
Worry less about the follow-up over emails in order to close the agreement. Revv’s seamless collaboration feature helps you to comment, tag, and add notes within the document.
Revv’s activity tracker helps in quickly monitoring the whole agreement. The sender gets insights into who has viewed, edited, accepted, or rejected the contract.
Revv’s eSignature feature helps you to accelerate the agreement process. It lets you electronically sign the strategic alliance agreement with a few clicks and turn it into a legal contract.
A strategic alliance agreement is an agreement between two different independent companies who come together to share their resources, core competencies, and capabilities for their mutually beneficial project.
The three types of strategic alliance agreements are - Joint Venture, Equity strategic alliance, and Non-Equity strategic alliance. Check out Revv’s strategic alliance agreement template to know more.
A strategic alliance is not a separate business entity. It is a form of contract between two or more companies that work together on a specific project to increase its business, improve product lines, and for further industry expansion.
Since neither firm commits any money, alliances are often less risky than mergers. It is simple to end the alliance if any company decides they no longer want to be a part of it. However, because both businesses must contribute money and resources to a merger, they are significantly riskier.
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An agreement between two parties that ensures one party to hold the other harmless and thus, indemnify them from any burden, loss, damage, or injury.
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A joint venture agreement must include all the necessary clauses to avoid any conflicts between the parties. With our join venture agreement templates, you can draft the legal documents quickly.
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👋Hey there! Use form-based document generation to create error-free and consistent documents in minutes. This template contains fillable placeholders called form fields. Documents created using form template have an easy-to-fill form in which you enter data to complete the document.
