Normally, you will be looking for a partner with complementary strengths. For example, you might want to find a company with a distribution network through which you can market your product, or with financial resources to invest in developing your intellectual property.
As well as your own requirements, think about what your partner will be hoping to get from the venture. You will need to be able to agree objectives which suit both of you. You will also need to reach agreement on a whole range of other issues (see 4).
Bear in mind that, sooner or later, the joint venture may come to an end. This can make it difficult to collaborate with a competitor, or with a business that is likely to compete with you in the future.
