A strategic alliance partnership is a collaborative agreement between two or more organizations, often non-competitors, that come together to achieve specific objectives while remaining independent entities. These partnerships are typically formed to leverage complementary strengths, share resources, or access new markets and technologies without the complexities of a merger or acquisition. The partners work together on mutually beneficial projects, sharing risks and rewards while maintaining their distinct identities. Unlike a [[joint venture]], where a new legal entity is created and jointly owned by the participating companies, a strategic alliance does not involve forming a separate business entity.