Strategic　alliances　are　becoming　ever　more　Popular,　their　rapid　growth　since　the　1980s　is　regarded　as　further　evidence　of　globalization.　In　this　paper　we　discuss　the　trends　in　strategic　technology　partnering　(STP),　the　propensity　why　firms　undertake　STP,　and　the　growing　use　of　non-equity　agreements,　which　seem　to　be　a　superior　means　to　undertake　technological　development　in　high-technology　and　fast-evolving　sectors.　Besides,　we　suggest　that　as　far　as　STP　is　concerned,　firms　appear　to　do　whatever　firms　in　the　same　industry　do.