Why Strategic Partnership?
One can say the most popular reason for entering into a strategic partnership is access to new markets and customers. In a partnership scenario, each party possesses one or more business assets or have expertise that will help the other by enhancing their businesses.
As of Wikipedia, the activities of a partnership can also include a shared research & development department between the partners. This requires a higher level of knowledge sharing as well as a higher level of sharing the technological capabilities. But by doing so, the costs and risks of innovation can be spread between the partners.