Which is a formal agreement between two companies to work together toward a common goal?

Question

Quizplus · Accepted Answer

A formal agreement between two companies to work together toward a common goal is known as a strategic alliance. Joint alliance is not a commonly used business term. A joint venture involves two companies forming a new entity to pursue specific business objectives, while a strategic venture involves one company investing in another to gain a strategic advantage. Therefore, options C and D are not the correct answers.

Which Is a Formal Agreement Between Two Companies to Work