Joint Venture

A joint venture is a type of business arrangement in which two or more parties agree to combine resources and expertise to pursue a common goal or project. In a joint venture, each party contributes assets or resources such as capital, technology, or intellectual property, and shares in the risks and rewards of the venture.

Joint ventures can take many different forms, ranging from short-term collaborations to long-term partnerships. They can be formed by companies of any size or industry, and can be domestic or international in scope.

Joint ventures are often used by companies to enter new markets or to gain access to new customers or technologies. They can also be used to share the costs and risks associated with research and development, or to leverage complementary expertise or capabilities.