Identifying the right partner for your product or service is crucial to your long-term prospects in a particular territory.
Gaining the right fit in terms of sector knowledge and contacts, business development capabilities and companyculture alignment requires a detailed knowledge of the local environment and the ability to assess potential partners.
Businesses should take care to ensure that the nature and terms of the relationship will allow your business to achieve its objectives and minimise the risk of conflict – which can be particularly time-consuming and costly.
Anti-corruption legislation such as UKBA and FCPA puts the onus on the foreign business to conduct sufficient due diligence on partners. Many ‘politically exposed’ individuals such as Royal Family Members, Ministers and other high-ranking Government Officials have private-sector interests which can create serious anticorruption concerns with regulators. It is essential that any business has a clear picture of ownership and governance structures before committing to a partnership.