The paper deals with the strategic association of companies as an indispensable segment of modern business. Namely, strategic linking involves cooperation in which business entities interact in a transparent manner in order to achieve mutual benefit, or to achieve certain specific goals. It will work with the positive side of the strategic alliance to give a presentation of those negative ones. The strategic link trend becomes increasingly pronounced, creating groups of companies of mega scale and size. The theoretical starting point for working as a joint venture, or through strategic partnerships, is mutually beneficial strategic outcomes that can certainly be different but in its essence to create value for all involved partners, whether financial or otherwise. The paper will show the reasons for the strategic link and give examples of frequency and success of international connections. The paper will further illustrate the form of strategic alliances and provide examples for certain strategic alliances. Also, the paper will deal with the features of strategic alliances. In addition, the paper will present strategic alliances in the Republic of Croatia and show the frequency and success of a strategic partnership of companies over the past five years.