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Brands co-market all the time, either helping build reputation, or negatively impacting the perception of the brand. But co-branding is not an exact science. Like any other kind of marketing activity, it works on a case-by-case basis. Here are seven questions — and answers — to help you understand when it’s best to co-brand and when you might want to decline such an opportunity.

1. Could we risk our reputation by associating our brand with others?

Co-branding is not only about creating awareness whenever possible. You also need to protect your brand’s reputation when “partnering” with others. If you perceive any palpable risk, seriously consider not participating in the program. If you see no risk, ask yourself:

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