JK Developers and KL Designs, who are experts in architectural engineering, form a business agreement whereby they agree to work together for two years in order to complete the design of a planetarium. This is an example of a ________.

Question

Quizplus · Accepted Answer

This is a strategic alliance, which is a type of partnership where two or more companies agree to work together for a specific purpose or period of time. In this case, JK Developers and KL Designs are joining forces to complete the design of a planetarium. A franchise involves one company licensing its brand and business model to another company to replicate. A licensing agreement involves one company granting another company the right to use its intellectual property, such as a patent or trademark. A limited partnership is a type of business structure where one or more general partners manage the business and are personally liable for its debts, while one or more limited partners contribute capital but have limited liability.

JK Developers and KL Designs, Who Are Experts in Architectural