Eight Important Elements Of Successful Business Partnerships

One of the best ways to grow a business and gain attention for your brand is to team up with another company. Partnering gives each party access to the others' skill sets and resources, which can greatly expand their individual capabilities. For a partnership to succeed, each of the businesses involved must be fully committed and should understand their respective responsibilities. We asked a panel of Forbes Business Development Council members for their advice on creating a successful business partnership. Here are their must-have partnership characteristics — and some of the benefits these elements could bring to your collaborative efforts.