Alliances will have a major impact on management in the 21st century. In an alliance, managers will have to make difficult decisions about when to partner and with whom, as well as how to structure and manage the partnership. Those managers who can leverage information and knowledge across each stage of the alliance process will find that a knowledge-based approach is critical to the success of any partnership. Managers can take a step up their own knowledge curve by reading this article, which discusses the importance and effectiveness of sound knowledge-management practices in the context of an alliance.