A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task such as a campaign, service offering, or simply to create a new perspective or approach.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task such as a campaign, service offering, or simply to create a new perspective or approach.

The venture is its own entity, separate from the participants’ other business interests, but take advantage of the combined resources of both companies to achieve the goal of the venture.

One company might have a well-established manufacturing process, while the other company might have superior distribution channels.

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