# Joint Venture

**IRI:** https://folio.openlegalstandard.org/RC0ycQb3ti4yr7qDxhAD1Gl

## Labels

**Preferred Label:** Cooperative Enterprise

**Alternative Labels:**

- Business Partnership
- Collaborative Venture
- Strategic Alliance

## 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.

## Sub Class Of

- https://folio.openlegalstandard.org/R7oBWHStfmqTLn2MypkW3Pj

**Deprecated:** False