As economies become more globalized, more and more firms are participating in overseas markets. The greatest participation options come with exporting, licensing, outsourcing, strategic alliances, joint ventures, and direct international funding. Each of these comes to alternative levels of risk, capital, and returns. The use of strategic alliances and joint ventures is hastily becoming frequent with a starting to be variety of multinational firms. According to Cullen in his 1999 book, a global strategic alliance is an contract between two or more firms from different international locations to cooperate in any value chain exercise from RandD to sales. A strategic alliance, as differentiated from a three way partnership, is a collaboration designed to achieve an isolated aim and comes to no equity stake from case study answer companions.