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BMW and Toyota have collaborated in the area of sharing costs and knowledge for electric car battery research, despite the fact that both compete in the luxury car segment. In fact, they have a history of collaborating with each other.

Bill and Melinda Gates Foundation funded a collaborative research consortium comprised of investigators around the world in order to speed up HIV vaccine development.

Be clear about what you are collaborating on. Set boundaries for collaboration at the beginning.Have a limited and well-defined purpose for the collaboration.Be clear about use and ownership of existing and jointly-created intellectual property.Depending on the situation, you may need to involve legal counsel. Collaborating with other firms, even competitors, may be what is needed to help both parties advance and improve. Be open to the possibilities, yet clear about the boundaries.

2. They don’t do without first learning.Learning is what we do best. The greatest thing about learning is the benefit that we receive in all aspects of our lives. Successful people strive to continue learning new things and expanding on things that they already know.If we stop learning, then the only thing we can do is settle with what we already know; if we settle for that, then there is no way to expand our minds. Expansion is essential on the path to success. Since our minds require learning for expansion, we must never stop seeking new knowledge.Imagine what would have happened if Bill Gates stopped learning and growing. The internet would be much more primitive than it is today. But because he followed his dreams and continued growing, he founded one of the biggest companies in the world and it is still flourishing and growing today.