Question

Tyrell Corporation, a manufacturer of smartphones, has entered into a 15-year partnership with a software company to develop sophisticated operating systems and innovative mobile applications for its phones. This would mean that both the companies will have to mutually share their resources, knowledge, and capabilities to develop a superior product. What is the relationship between Tyrell Corporation and the software company best referred to as in this scenario

Answer 1

strategic alliance

Step-by-step explanation:

Strategic alliance can be regarded as an arrangement set up between two companies so that they can undertake a mutually beneficial project , even though each of the companies still retains its independence. This type of agreement can be regarded as been less complex compare with a joint venture, it is as well less binding than a joint venture, whereby two businesses gathered together resources so s to create a separate business entity.