Not enough research attention has been devoted to inter firm partnerships, value creation, mechanism and use of governance structure, I the context of emerging economies. This study explores the process through which firms achieve the desired value ( outcome or behavioral focused value creation process) and the governance mechanism  ( formal and informal) used b the lead firm to ensure that partner firms adhere  to the process for value creation, and proposes a conceptual typological framework for looking at partnerships in emerging economies We also provide a discussion of the typologies and offer tentative future research and managerial implicaitons