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Joint venture -
Is a business agreement in which the parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets. There are other types of companies such as JV limited by guarantee, joint ventures limited by guarantee with partners holding shares.
Companies typically pursue joint ventures for one of four reasons: to gain faster entry into a new market; to acquire expertise; to increase production scale, efficiencies, or coverage; or to expand business development by gaining access to distributor networks.
- Joint venture. 2016. In Wikipedia, The Free Encyclopedia. Retrieved 16:56, March 10, 2016, from https://en.wikipedia.org/w/index.php?title=Joint_venture&oldid=709322637