Develop Phase: Other Business Relationships - Selling with business consortia, Joint ventures and alliances
3 important questions on Develop Phase: Other Business Relationships - Selling with business consortia, Joint ventures and alliances
What is a consortium?
Alliance between companies by which, in tendering for a project, they make clear to the customer that it is their desire to work together, and that then tenders have been coordinated, on that basis.
Because of the risks assumed in this business model, these contracts devote extensive attention including:
- Scope of work
- Responsibility for claims
- Proportionate value
- Limitation of liability
- Nature of the relationship
- Managing the consortium
- Resolution of disputes
- Engineering services
- Bid preparation
What aspects have to take in account in case of a joint venture?
- protection of proprietary and intellectual property
- the change of business strategy
- tax implications that influence the structure
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