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