A _____ Simply Involves Two or More Firms Collaborating, as Opposed

question 6

Multiple Choice

A _____ simply involves two or more firms collaborating, as opposed to creating a new entity together.

• A) strategic alliance
• B) consortium
• C) tactical association
• D) cloud system
• E) joint venture

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Definitions:

Contract Amount

The total financial obligation or the sum involved in a contract agreed upon by the parties.

Service of Process

The procedure by which a party to a lawsuit gives an appropriate notice of initial legal action to another party (such as a defendant), court, or administrative body to exercise jurisdiction over that person so as to enable that person to respond to the proceeding.

Intended Beneficiary

An individual or entity explicitly chosen to benefit from a contract, even though they are not a direct party to the agreement.

Incidental Beneficiary

A third party who benefits from a contract between two other parties, even though the benefit was not the contract’s primary purpose or intention.