A Joint Venture (JV) is a new business agreement with two or more parties to do a particular business or project with the pooling resource operation. JVs are advantageous as a risk reducing mechanism in new market penetration that is similar to a partnership, but limited to a specific project in a specific area. The participant of a JV is responsible for profits and losses, and the other type of JV formation can be the JVs limited by guarantee with partners holding shares.
Related Definitions in the Project: The Project Management; Project Contract; Business Organisation
