Joint Venture refers to a contractual, strategic partnership between two or more separate business entities to pursue a business opportunity together.
- A joint venture is a partnership between two or more people that aims to develop one business or project for profit while splitting the associated risks. The joint venture's participants must consist of at least two different natural persons or entities.
- A joint venture is a company founded by two or more people that is typically distinguished by shared ownership, returns and risks, and governance.
- The typical life period of a joint venture is only five to seven years, and the total success rate of alliances is close to 50%.
- The joint venture's participants must consist of at least two different natural persons or entities.
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