Strategic alliances have long been established as formal inter-organizational relationships, especially among companies operating in the international business sphere. The purpose of shaping joint collaborations is to attain organizational goals easier and more efficient. Partnership is defined as the strategic relationship between mission-driven, independent, yet highly interdependent organizations with high levels of common resources and similar goals. In a modern economic network, companies may assumably operate independently in the market and hence without the intervention of criteria, but the strategic position of a potential market partner plays a major role in overall performance. Moreover, merely considering the compatibility of two companies in a partnership would lead to deficiencies in the prospect. As such, criteria for partnership must be complementary to meet the needs of both parties. Furthermore, management tools should not affect the complexity of the criteria. The purpose of this study was to examine the foundations of strategic alliance and partnership of organizations.