joint venture

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joint venture

Two companies form a joint venture to build a new factory.

Definition

Noun: 1. A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project. This task is typically a new commercial project or activity. Each participant is responsible for the venture's profits, losses, and costs, and shares in its control. 2. A commercial enterprise undertaken jointly by two or more independent entities. It is a form of partnership, often temporary, where the parties maintain their separate legal identities while creating a new, shared entity or contractual agreement for the venture.

Usage Examples
  • Noun:
    • The two automotive giants formed a joint venture to develop electric vehicle batteries.
    • Their joint venture in the Asian market proved to be highly profitable.
    • The contract outlines the terms and responsibilities of the new joint venture.
Advanced Usage
  • "to enter into a joint venture": to formally agree to and establish a joint venture.
    • The tech firm entered into a joint venture with a university for advanced research.
  • "a 50/50 joint venture": a joint venture where ownership, control, profits, and losses are shared equally between two parties.
    • The project is structured as a 50/50 joint venture.
Variants and Related Words
  • Joint-venture (verb, less common): To undertake a project as a joint venture.
    • The companies agreed to joint-venture the construction of the new airport terminal.
  • Partnership: A broader, often more permanent business relationship where two or more parties manage and operate a business and share its profits.
  • Strategic Alliance: A cooperative arrangement between firms that is less formal and integrated than a joint venture, often focusing on sharing resources without creating a new entity.
Synonyms
  • Collaboration
  • Cooperative enterprise
  • Consortium (especially for larger, multi-party ventures)
Related Phrases
  • Equity joint venture: A joint venture where a separate legal entity is formed, and the parties' contributions are measured in shares of equity.
  • Contractual joint venture: A joint venture based on a contractual agreement without creating a new, separate legal entity.
joint venture

Two companies form a joint venture to build a new factory.

Noun
  1. a venture by a partnership or conglomerate designed to share risk or expertise
    • a joint venture between the film companies to produce TV shows