Guest post by Rahul Kapur, Icon Investment Partners
Companies build partnerships essentially to find growth opportunities or for significant costsavings. For growth, the partnerships would add know-how, technology, products, geographies and / or customers. There are numerous types of partnerships and companies need to learn how to successfully leverage these. These make companies more agile. Partnerships can be of different types: from leveraging great suppliers, to a variety of licensing agreements to university programs, and consulting arrangements, etc. Companies need to be flexible, in their approach. The key is to find the capabilities and know-how that is needed.
Of course protecting yourself with NDAs and other arrangements is essential to ensure that IP is protected.
Specifically technology partnerships can help
- Expand existing capabilities
- Develop current core competences to strengthen the company
- Add new to the company capabilities necessary for growth into new business areas.
- Bring new ideas and new thinking into the company.
- Provide speed to market in highly competitive situations.
- Allow for resource flexing of resources or cost savings