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 ?
On the other hand, with a cooperative joint venture, you may contractually agree on the form and capitalization, and the venture may have a long life or a life limited to a specific project, which is common in cooperative joint-venture agreements to build roads and buildings or to extract natural resources.
In whirlwind tours through Russia and several other former Soviet republics, an army of Western businessmen crowded the lobbies of joint-venture hotels (or sat in their rooms waiting for an available telephone line for $12-per-minute calls back home), generally exploring deals promoted by State bureaucrats that were centered on products and technology chosen by administrative or political processes rather than market needs and realities.
Nine black companies or joint-venture shares placed among the top 100 RTC contractors receiving fees in excess of $4 million.
France's Pechiney will manufacture aluminum tubes in East Germany; Japan's Suzuki will make cars in Hungary; Korea's Daewoo Electronics will produce microwaves in Hungary; Gillette will manufacture razor blades in the U.S.S.R.; and West German firms, Siemens among them, have inundated East Germany with investment dollars and joint-venture proposals.
The first fruits of their labour came last spring with the news of a joint-venture between German company REpower System AG and two Sudbury companies, the Consbec Group and Gagnon Renewable Resources Inc., to build wind turbines at a manufacturing plant in the Valley East Industrial Park.
In addition to the uncertain political and economic conditions, firms also must consider whether they can find suitable joint-venture partners and investment opportunities for policyholder funds within Indonesia.