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.
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.