Which of the following is defined as a formal agreement 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 formal agreement between two or more separate companies in which they agree to work cooperatively toward some common objective. A joint venture involves the creation of a new entity owned by two or more parent companies, while vertical and forward integration refer to a company expanding its operations either upward or downward in its supply chain. Outsourcing involves contracting work to a third party outside of the company.

Which of the Following Is Defined as a Formal Agreement