What is a JOINT VENTURE?

Right Track Business Services - What is a JOINT VENTURE?

A joint venture is a strategic alliance where two or more parties, usually businesses, form a partnership to share markets, intellectual property, assets, knowledge, and, of course, profits. It differs from a merger in the sense that there is no transfer of ownership in the deal. The parties in the JV share in the management, profits, and losses, according to a joint venture agreement (contract).