In this study, findings of three case studies conducted on the strategic alliance key issues are reported. Interviews were conducted to explore the feasibility of the authors' conceptual framework and subsequently its validation. This paper aims to provide an in-depth understanding of the nature, formation and survival of strategic alliances. It was found that the intention to seek complementary resources and skills affect the intensity of integration between strategic alliance partners. While environment impacts the nature of the alliances, it moderates the firm decision in asset specificity (AS) investment. Although AS reduces perceived opportunism, we found that it is not a common practice in our case companies. Collaborative relationships that exhibit high levels of communication, trust and commitment tend to have high level of reciprocal interdependence, and thus better overall performance.