Joint Venture
type: Class
preferred label: Cooperative Enterprise
alternative label: Business Partnership
alternative label: Collaborative Venture
alternative label: Strategic Alliance
subclass of: R7oBWHStfmqTLn2MypkW3Pj
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.
example: BMW and Toyota's joint venture to develop hydrogen fuel cell technology
example: Sony Ericsson was a joint venture between Sony Corporation and Ericsson to produce mobile phones.
example: The venture between Google and NASA to collaborate on space exploration technologies.