partner open to the key contractual arrangements that you want to see in place, and what are his nonnegotiable demands?
A partnership is built on the belief of two company boards that working together will deliver benefits, even if the risks and returns are not entirely clear yet. Seeking to make a ' watertight ' contract therefore makes little sense. For example, very promising products may suddenly lose a large part of their value for a variety of reasons. The emergence of mobile phones dealt phone booths a crippling blow. Amended legislation put an end to certain equity insurances, and to mediation agencies in children ' s day-care. This can also have unexpected consequences for underlying collaborative frameworks.
Part of the process of arriving at a definitive contract can be to conduct a „ due diligence ‟ investigation, as is not uncommon in takeover situations. The purpose of this investigation is to confirm the validity of assumptions underlying the collaboration, such as:
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Have the rights to the technology been sufficiently established? Are claims concerning customer numbers and distribution channels accurate? Is the partner truly capable of achieving a cost benefit? Is the partner sufficiently robust financially to meet his obligations of the collaboration?
This investigation can for instance be conducted by a neutral external consultant, to prevent any trade secrets from passing from one partner to the other.
Finally, it is advisable to gauge what influence your company can exert on the collaboration or alliance 15:
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Is your company sufficiently relevant to the success of the collaboration? Is your company also formally authorised to take important decisions, or is this authority entirely in the hands of your collaborative partner? Do you have direct access to customers, and will they be able to see your added value? Do your people have a leading role in customer relations, and will they be the first to hear of significant developments?
If the majority of these questions must be answered negatively, then it is wise to pursue a different form of collaboration, or to seek another partner.
Various surveys have shown that relational aspects have a major influence on the success of a partnership. Does working together feel good? Is there a sense of trust between the partners? The initial meetings and talks are often enough to get a feeling for these aspects.
A reliable test can be incorporated by organising a workshop, before the signing of the collaboration agreement, in which the people operationally involved at both sides work together to establish a project plan for the first period. A neutral facilitator may be appointed to lead the workshop. If a first and basic step, such as making a plan within a clearly defined context, already runs into problems, then it is important to review the collaboration plans, at least with regard to its form. 31