Trust – a key factor

When a country lacks:

  • good legislation frame,
  • underdeveloped intelectual property protection and
  • suboptimal business practices,

getting trust becomes crucial for good collaboration.

Every partner in innovation endeavour must have a good credibility, otherwise nobody will want to collaborate with him. Trust is a bridge that connects the gap made by lack of legislation and protection. Obviously, to form a trust between partners, time has to pass and good things need to happen, which is slowing things down. Therefore, SMEs could use some sort of authority to help them reckognize a trustfull partner without having to invest in him first. Sometimes, SMEs turn to general public or their partners, to check potential partner’s reputation. In other cases, SMEs are forced to cautiously get in the business together, constantly probing their partner, and deciding whether he is reliable or not.

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