joint venture
Sign in to saveAlso known as JV, joint undertaking, joint venture cooperation
business agreement to develop, for a finite time, a new entity
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A joint venture (JV) is a type of business entity created by two or more parties that normally has shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly an emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities.
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