Joint venture

A joint venture, in the context of business and commerce, is a strategic partnership between two or more companies or entities that come together to collaborate on a specific project or business activity. This collaboration involves sharing resources, risks, profits, and responsibilities for the mutual benefit of the parties involved. Joint ventures can take various forms, including the creation of a new company or a contractual agreement between existing entities. They are often used to leverage the strengths and expertise of each partner to achieve a common goal, such as entering a new market, developing a new product, or pursuing a specific business opportunity.