What is joint venture?
A joint venture is a business venture in which two or more companies combine their resources in order to achieve a specific goal or project.
When two or more people or entities join forces and pool their resources to conduct business activity, a joint venture is formed. A venture is distinct from the people who take part in it. It can be formed by two or more companies or businesses to carry out a specific project and optimize their expertise.
There are numerous reasons for entering into joint ventures, including firm expansion, entry into a foreign market, cost distribution, and so on. The main advantage is that no single person is required to bring all of the capital to launch a new venture.
Did you know?
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