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The terms “relationships” and “networks” are widely used in academic discussion of business practice and have become increasingly common in the conversions between managers themselves. This paper starts with a description of some aspects of business networks and relationships and highlights the questions that they pose for practitioners. The paper suggests that an understanding of these questions require an appreciation of a number of paradoxes that are intrinsic to the nature of business networks. The paper explores each of these paradoxes and draws out their managerial implications. It uses these paradoxes to provide an answer to the question; “How should companies interact in business networks?”