Joint Venture
/ˌdʒɔɪnt ˈvɛnʧər/
Definitions
- (n.) A business arrangement in which two or more parties agree to combine resources for a specific project, sharing profits, losses, and control.
The companies formed a joint venture to develop the new technology.
- (n.) A legal entity created jointly by multiple parties to undertake economic activity together, often governed by a specific contract or agreement.
The joint venture was registered as a separate entity under state law.
Forms
- joint ventures
Related terms
See also
Commentary
Joint ventures often require clear contractual terms to delineate the parties' rights and obligations, distinct from a general partnership.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.