Joint venture

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Joint venture

A legal arrangement in which two or more parties undertake to share the risks and rewards of a project on an agreed upon basis.

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.
References in periodicals archive ?
This new joint-venture with our partners Bao Steel and Nippon Steel is a strategic move to accompany our global automotive customers and to seize the tremendous growth opportunities offered by the Chinese market," said Arcelor Chief Executive Officer Guy Dolle.
Exploration of the four blocks contained under a single sixth generation Contract of Work ("COW") subject to a joint-venture between Iriana and a subsidiary of Battle Mountain Gold Company ("Battle Mountain") has proceeded steadily with positive results.
The new joint-venture factory is expected to commence operations in July 1997 supplying a wide range of automotive wire harness products to leading automakers in China as well as overseas markets.
8, 1997--Rock-Tenn Company (NYSE:RKT) and Sonoco Products Company (NYSE:SON) announced the signing of a letter of intent to combine their fiber partition businesses into a new joint-venture company.
NASDAQ/NM:IWRK) Tuesday announced that it is repositioning and expanding its marketing strategy in location-based entertainment (LBE), moving from a company that has primarily sold hardware to one that is actively developing joint-venture relationships in the United States.