{"iri":"https://folio.openlegalstandard.org/RC0ycQb3ti4yr7qDxhAD1Gl","label":"Joint Venture","sub_class_of":["https://folio.openlegalstandard.org/R7oBWHStfmqTLn2MypkW3Pj"],"parent_class_of":[],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":"Cooperative Enterprise","alternative_labels":["Business Partnership","Collaborative Venture","Strategic Alliance"],"translations":{},"hidden_label":null,"definition":"A joint venture is a business arrangement where two or more parties agree to pool their resources to accomplish a specific task, project, or business activity. Each party in a joint venture retains its separate legal status while sharing ownership, control, and profits of the joint enterprise.","examples":["BMW and Toyota's joint venture to develop hydrogen fuel cell technology","Sony Ericsson was a joint venture between Sony Corporation and Ericsson to produce mobile phones.","The venture between Google and NASA to collaborate on space exploration technologies."],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}