What are these 'I'? and why they should decide while forming a strategic partnership.
1) Importance - The relationship must matter strategically to both sides more for the long term (rather than short term)
2) Interdependence - The strategic partnership happens because there is a need for each other it can be financial, technological or joint venture to push value of their product or service in the market place.
3) Investment - Each partner has a stake in the success of the other, once success is the fortune for the other.
4) Integration - Ensure that several contact points are cross bleeding between the two to guarantee success in partnership
5) Integrity - Finally both organizations should trust each other. Trust is critical along with ethics and morality. Management classes in theory and practice in industry try to enforce ethics in some or the other way but it should stem from morality and morality should stem from true foundational principles.