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- DictionaryJoint ven·ture/ˌjoint ˈvenCHər/
noun
- 1. a commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities.
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noun
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A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects;... Wikipedia