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An article written by David A. Gurwin — shareholder in the Corporate Finance & Technology Section of Buchanan Ingersoll & Rooney's Pittsburgh office — was published in the September 2009, edition of the ACC Israel Chapter Newsletter. In the article, titled "Partnering Relationships in a Limited Funding Environment," Gurwin discussed the difficulty in obtaining financing in today's down market and alternatives to consider, such as entering into a strategic joint venture. Additionally, the article was published in the November 2009 edition of TEQ Pittsburgh magazine.

According to Gurwin, "In such a market environment, companies that need to raise capital to finance growth, new products or entry into new markets have no choice but to explore alternative funding sources. Such alternatives range from licensing and/or outsourcing transactions to joint venturing with a strategic partner."

As explained in the article, "A strategic partner could be a potential competitor, large customer, market player in a complementary industry or large player in the same industry. The possibilities for a joint venture partner are endless, although choosing the wrong partner or the wrong structure carries a significant amount of risk."

Gurwin goes on to discuss three detailed steps to follow when choosing to enter into a partner relationship:

  1. Identifying a Venture Partner and Getting Started
  2. Structure — Creating the Relationship
  3. Issues for the Operating Agreement — From Marriage to Death Do Us Part or Divorce
He concluded the article saying, "Until the traditional finance markets open up again, businesses should carefully consider the joint venture or strategic alliance options as a means to support continued growth and prosperity."