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.

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