Final answer:
A strategic alliance is the term used to describe a relationship between one or more companies working together to achieve joint corporate and market-related goals without merging into a single entity, different from mergers and acquisitions which lead to a single firm.
Step-by-step explanation:
The term used to refer to most nonequity alliances where there is any type of relationship between one or more companies attempting to reach joint corporate and market-related goals is a strategic alliance. Unlike mergers and acquisitions, a strategic alliance involves collaboration without the companies becoming one entity. Mergers and acquisitions have different implications and involve the unification or purchase of one firm by another, leading to a single firm where two were previously separate.
Types of mergers can be categorized as horizontal, where companies producing similar products join; vertical, where the merger involves different steps of manufacturing; and conglomerate, where a firm owns several businesses that make unrelated products, allowing for diversification. A horizontal merger might be executed to increase efficiency, acquire new product lines, eliminate rivals, or change corporate identity. Vertical mergers help streamline the manufacturing process and are often undertaken to secure supply chains.
It's important for companies to navigate through antitrust laws, which maintain market competition by preventing the formation of excessively large firms through mergers and acquisitions, regulating business practices, or breaking up large companies. A strategic alliance can circumvent these regulations as it doesn't form a single large entity but rather enables companies to work together towards common goals while remaining independent.