Briefly describe what is meant by a joint venture. Compare and contrast a joint venture with a traditional partnership.

What will be an ideal response?


A joint venture is an arrangement in which two or more business entities combine their resources to pursue a single project or transaction. The parties to a joint venture are called joint venturers. Joint ventures resemble partnerships, except that partnerships are usually formed to pursue ongoing business operations rather than to focus on a single project or transaction.

Business

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Business