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In our new phase of capitalism, knowledge is central. The industrial economics literature has shown the importance of the increasing rhythm of innovation; value-creation is becoming more and more linked to the firm’s informational ability. In this context, it appeared logical that the increase in alliances was an efficient and flexible way to exchange information, to share research costs, etc. The definition of alliances given by the Thomson Financial Alliance database is that they exist where the sharing of property rights, risks and benefit are defined, where operational tasks are affected, and where independence and autonomy are preserved. A strategic alliance is created when two or more organisations cooperate without creating a new entity. Hence, strategic alliances do not include joint ventures. A joint venture appears when a new industrial entity is created and the participants preserve their autonomy. The new entity can result from the merger of two former subdivisions of each company or from the creation of a completely new entity.

The Evolution of Strategic Alliance: Relevance in the Cognitive Capitalism