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Alliance

An alliance is a formal relationship between two or more parties working together to achieve a common goal. In the context of new product development, an alliance can be formed between a company and another organisation, such as a university or research institution, to share resources and expertise. The alliance may also involve the sharing of risks and rewards. Alliances can benefit all parties involved, as they can increase the chances of success for a new product development project.

An alliance is a formal relationship between two or more parties working together to achieve a common goal.

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