joint venture
A 'joint venture' involves multiple parties collaborating on a business project, sharing resources, risks, and profits.
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Definition
C2Law
(legal)A legal entity formed by two or more parties to conduct business together, characterized by shared ownership and governance.
Example
- The joint venture agreement outlined each party's responsibilities and profit-sharing.
C1Business
(corporate, strategic)A business arrangement where two or more parties collaborate to pool resources and expertise for a specific project, sharing both risks and profits.
Example
- The two companies entered a joint venture to develop new technology.
- They formed a joint venture to expand their market reach.
Similar
Terms that have similar or relatively close meanings to "joint venture":