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As a part of the Accelerated Business Concepts…Know Your ABC’s workshop series, Schneider, Smeltz, Ranney & LaFond, P.L.L. (SSRL) hosted a new workshop on strategic partnerships. Todd K. Masuda and Joseph P. Gibbons, panelists and attorneys at SSRL, spoke about the definition of a smart partnership, the best structures for strategic partnerships, and planning to deal with success as well as potential obstacles. This evening workshop took place at the SSRL offices on Tuesday, June 28th, 2011.

Currently one of the biggest trends in business is strategic partnerships. It gives businesses a chance to discover innovative ways to collaborate with other organizations while opening doors to multiple opportunities and benefits (financial and non-financial) for both parties involved. Starting a strategic partnership is a valuable technique for pursuing new clients or markets, increasing profits, leveraging competencies, sharing limited resources, accessing additional capital, spreading the risk, and more. If executed well, it can provide a company a sense of security that is needed to take a step toward growth that it may have been too hesitant to do without the support of another party.

Though all partnerships begin with an inspiring and optimistic idea, they can easily turn into a challenging experience with lack of organized planning and thought. The Accelerated Business Concepts: Strategic Partnerships workshop was designed to assist those considering a business partnership by outlining the issues and questions to consider in the initial stages while focusing on effective ways to protect and grow your business. The workshop discussion topics included: understanding your goals, vetting potential partners, clarifying alliance goals,identifying properties involved, recognizing risks, establishing guidelines for management and control, finances, duration and termination of the alliance and developing a contract.

For more information about this workshop or other Accelerated Business Concepts workshops in the series, please contact:

Joseph P. Gibbons – jgibbons@ssrl.com – 216.696.4200x123

Todd K. Masuda – tmasuda@ssrl.com – 216.696.4200x125

For more information on SSRL, please visit www.ssrl.com or the International Society of Primerus Law Firms.