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A strategic alliance is an agreement between two or more players to share resources or knowledge, to be beneficial to all parties involved. It is a way to supplement internal assets, capabilities and activities, with access to needed resources or processes from outside players such as suppliers, customers, competitors, companies in different industries, brand owners, universities, institutes ...
It is only when all parties involved are aware of the formation of a legal obligation is there a meeting of the minds. [citation needed] However, the awareness of a legal obligation is established, not through each party's subjective understanding of the terms, but on "objective indicators," based on what each party said and did. [9] [10]
Another type of political organization is the party coalition. A party coalition is a group of political parties operating together in parliament. Oftentimes, party coalitions are formed after elections have taken place and no party has clearly won a majority seat in parliament (e.g. the AAP-Congress Government in Delhi).
Collaborative partnerships rely on participation by at least two parties who agree to share resources, such as finances, knowledge, and people. Organizations in a collaborative partnership share common goals. The essence of collaborative partnership is for all parties to mutually benefit from working together.
The parties thus are more amenable to understanding the other party's side and work on underlying issues to the dispute. This has the added benefit of often preserving the relationship the parties had before the dispute. Parties as a part of the mediation are encouraged to negotiate on the basis of interests rather than positions that they hold.
Political movements are also related to political parties in the sense that they both aim to make an impact on the government and that several political parties have emerged from initial political movements. [5] While political parties are engaged with a multitude of issues, political movements tend to focus on only one major issue. [6] [7]
Parties often espouse an expressed ideology or vision, bolstered by a written platform with specific goals, forming a coalition among disparate interests. [ 71 ] Political parties within a particular political system together form the party system , which can be either multiparty , two-party , dominant-party , or one-party , depending on the ...
In business, an MoU is typically a legally non-binding agreement between two (or more) parties, outlining terms and details of a mutual understanding or agreement, noting each party's requirements and responsibilities—but without establishing a formal, legally enforceable contract (though an MoU is often a first step towards the development of a formal contract).