A formal agreement, or ________, is between two or more separate companies in which they agree to work cooperatively toward some common objective.

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A strategic alliance is a cooperative agreement between separate companies to work together toward a common objective. A joint venture involves the formation of a new entity by two or more companies, while vertical integration and forward integration refer to a company expanding its operations within its own supply chain. Outsourcing is the practice of contracting work to an outside party.

A Formal Agreement, or ________, Is Between Two or More