Keyword Analysis & Research: joint venture meaning

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What is a joint venture and how does it work?

A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a joint venture (JV), each of the participants is responsible for profits, losses and costs associated with it.

What is the difference between a joint venture and a partnership?

The distinction between a joint venture and a partnership is traditionally understood as follows: a partnership involves 'persons carrying on a business in common with a view of profit'. a joint venture differs from a partnership in two material respects.

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