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The purpose of this paper is to analyze and discuss the strategic positioning of associations that can be established between a corporate brand and entities in its surrounding network such as brands, product categories, persons, places and institutions.

A semiotic approach is used to describe image transfer processes between the corporate brand and other entities. The paper provides a structure to leverage the corporate brand in different product market contexts.

The paper offers the “corporate brand association base model” as a conceptual framework for brand‐to‐brand collaboration. The model structures how a corporate brand can develop more expansive brand architecture through transfer of image from sources of brand equity in the internal brand hierarchy and surrounding brand network.

A useful source for brand managers in the process of co‐positioning corporate brands and assessing risks, in relation to brands, product categories, persons and institutions. The framework will make it easier for brand managers to design strategic brand alliances.

The value of this study is that it has presented a model that adds depth and texture to the current academic discussion of corporate brand capitalization, by introducing a balance between in‐house leverage and external leverage of the corporate brand.