Joint venture

Definition

A joint venture is a strategic alliance where two or more parties, usually businesses, agree to collaborate on a particular project or business activity, sharing both the risks and rewards. It is often used to enter new markets or pool resources for large projects.

Related terms

Strategic Alliance: A cooperative agreement between two or more companies that agree to share resources in pursuit of common goals without forming a separate legal entity.

International Business: The exchange of goods, services, technology, capital or knowledge across national borders and at a global or transnational scale.

Risk Management:

The process of identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events