Alliances have a long tradition and business alliances have developed over time. There are many forms of alliances in many sectors variating from contractual alliances, joint-ventures, multi-party alliances and purpose-driven alliances. All alliances have positive and negative effects for partners, customers, and society as a whole. Failures and successes in creating and managing alliances are described from a multidisciplinary view. In the lifecycle of alliances four stages are distinguished from forming, building, and developing to guiding the alliance as it evolves. People involved in alliances will face paradoxes one needs to be aware of and cope with in creating and managing alliances. The chapter concludes by introducing two purpose-driven alliances that contribute to a better world.