Quick Definition

A joint venture (JV) is a business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity.

Examples

• 1Two technology companies forming a JV to develop a new type of software.
• 2A U.S. company entering a JV with a Chinese firm to gain access to the Chinese market.
• 3Real estate developers partnering in a JV to build and manage a large residential complex.
• 4Automobile manufacturers collaborating in a JV to research and produce electric vehicles.

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