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 together to achieve a common objective. The companies remain separate entities but collaborate on projects or business activities to further their mutual interests. A joint venture involves the creation of a new entity, with its own legal structure, by two or more companies. Vertical integration and forward integration are typically used to describe a company's internal growth strategy, while outsourcing involves the transfer of business activities to an external vendor.

Which of the Following Is Defined as a Formal Agreement