Generally-accepted definition
A business partnership that involves the sharing of resources between two or more individuals or companies to help all involved succeed. Strategic partners are usually non-competing businesses and often share both the risks and rewards of the decisions of both companies.
The goal of a strategic partnership is to create value for each company by offering information, services and other resources that the other company otherwise either has no access to or could only access through a financial exchange.
Source: Strategic Partnerships: What They Are and How To Create One
Actual definition
An idea that sounded good when some senior execs got together at the country club.
Source: experience working on products that were thrown down from on high, not well thought out, and that customers don’t want.
Marundu 