The number of strategic alliances in the corporate world has surged in the 1990s, and similar relationships are now being formed between corporations and higher education institutions. The rate of alliance failure in the private sector is high, however, and there is much that can be leveraged from these experiences. This presentation covers the results of recent research on critical success factors in strategic alliances, including the importance of communication, participation, and trust in building successful partnerships. This information will set the stage for a discussion of a number of case studies, particularly a far-reaching strategic alliance formed in early 1998 between the University of Virginia and IBM. A list of additional resources on the subject of strategic alliances is also provided.