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When structured properly, a strategic partnership with a large company can catalyze a small firm's growth. In establishing a partnership, entrepreneurs should focus on how their product will be sold, who will sell it, and how the partner will facilitate sales growth.
When getting ready to engage with a strategic partner, entrepreneurs should enter into a written agreement when working with these partners to ensure, among other items, the proper assignment of invention terms and various representations and warranties.
Careful measurement and management of your partnerships can protect entrepreneurs from entering into agreements with the wrong strategic partners, and it can provide a sound basis for making the most of productive partnerships.
In selecting a strategic partner for your company, do your homework first. With United Stationers as a partner, Paula Jagemann was able to grow revenues $0 to $18 million within eighteen months, deliver top customer service, and generate a high percentage of repeat customers.
Biotech entrepreneurs face unique business challenges in bringing their products to market. To partner effectively in the biotech space, this question-and-answer article identifies key tasks, including advice on term sheets, intellectual property protection, and treatment of royalties.
Richard Caruso considers success less a matter of financial accomplishment than of meaningful personal contribution. He's managed to do both.
Jeff Smith's trip to Honduras has evolved into a model that encourages aspiring entrepreneurs and helps struggling communities in the process. Smith received the Kauffman Community Award in honor of his accomplishments at a special presentation at the 2006 EO Chicago University.
Marcia Mellitz, president of a St. Louis-based technology business incubator, recounts the roller coaster tale of two entrepreneurs who ride the wave of startup, failure, and ultimately success.
As vice chairman of America Online, owner of sports teams and serial entrepreneur, Ted Leonsis has accomplished enough for many lifetimes. In addition, however, he uses the leverage of his position and his entrepreneur's drive to tackle a multitude of philanthropic goals.
A business strategy incorporates business and personal goals into a competitive advantage that will successfully carry the business into the future.
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