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joint venture

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia 0.01 sec.
joint venture
A collaborative undertaking by two or more persons or organizations for a specific project (or projects) having many of the legal characteristics of a partnership.


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Speaking at a luncheon presentation of Pakistan Pharmaceutical Manufacturers Association (PPMA) at a local hotel, on Thursday, he said Italy has allocated $ 10 million for setting up a plant to locally produce self destructive syringes under a joint venture between Italian company and Pakistani counterpart from private sector.
A joint venture can be executed for a limited period or a continuous period.
The companies say they have agreed to form a joint venture to develop the project, with Pan American contributing 100% of the funds necessary to develop and construct an operating mine, in consideration for a 55% interest in the joint venture.
 
 
 
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