Once you have the first business set-up in place you need to manage the relationship over its intended life cycle.
You need to secure that both parties understand the wanted cooperation as well as being prepared for managing changes in the business set-up.
Managing the relationship is together with the exploring candidates to find a match to your Business Value Chain for the Cooperation are the most important activities.
Managing the relation will secure your Business Objectives with the Cooperation over time. The activity will require some effort to be run.
You will need to work with the Partner both operationally as well as on a management level.
Securing that the daily work with the Partner to reach the common Business Objectives requires that you allocate persons who can manage and guide the two organisations on what to do and not to do. In addition you need to secure the life cycle management of the product/service.
In addition to daily operational management you need also to have regular Management Business Reviews to follow-up, correct and guide the activities within in the Business Cooperation. The Business Review needs to have a set of Functional Perspectives such as Sales, Product Evolution, Supply and Support.