A business alliance is a formal agreement between two or more companies to collaborate on specific projects or goals while remaining independent. This partnership allows businesses to share resources, knowledge, and expertise, which can lead to increased efficiency and innovation. Common types of alliances include joint ventures, strategic partnerships, and co-marketing agreements. These alliances can help companies enter new markets, reduce costs, and enhance their competitive advantage. By working together, businesses can leverage each other's strengths, such as technology, distribution channels, or customer bases, ultimately driving growth and success in their respective industries.