Collabortion is key, because, as with any joint venture, choosing the right partner with common objectives is essential. This could mean that former foes, fighting for market share in the same territory, will come to realise that working together has benefits for all. When an exchange starts up, expectations will be influenced to a large extent by the main players. Its initial reputation will be built on the brand values and image of the companies involved. It therefore makes sense to link together with organisations which share similar values and business goals - even though this could mean market leaders will be collaborating in the virtual world while still competing in the physical one.
Commerce is at the heart of any exchange.
It means building a virtual market place around web technology, linking a variety of suppliers of all sizes to participate. A critical part of the whole process is therefore creating a community of both buyers and suppliers, creating a new and separate culture within the exchange. Content is vital, as it is with any business proposition. Exchanges need to have an attractive price proposition to generate initial interest and must be able to facilitate trade easily. They must also have a number of product features that appeal to both buyers and sellers.