Partnerships can range from simple principal-reseller relationships to equity joint ventures. In the latter makeup, partners have real and often long-term financial interests in the project. There are...

Partnerships can range from simple principal-reseller relationships to equity joint ventures. In the latter makeup, partners have real and often long-term financial interests in the project. There are others that sit somewhere in the middle, such as franchising or trademark license agreements. In what ways can such alliances turn out badly?