
By formal definition a strategic partnership is an alliance between two enterprises that is formalized through a contract but is not a legal partnership. Typically companies create a strategic partnership when each has assets that will help the other but that each prefers not to develop internally. In the case of my personal care manufacturing business, our skincare brand strategic partners value us for our product development services, our manufacturing and contract packaging services, and our packaging and transportation logistics services. We in turn value the ability of our skincare strategic partners to form distribution channels and sell skincare products.