WordValejoint venture
a business project shared by two or more companies
In more detail
1. (noun) a business agreement in which two or more companies work together on a project, sharing the costs, risks, and profits
Examples
- The two car manufacturers formed a joint venture to develop electric vehicles together.
How to use joint venture
Joint venture is a formal, technical term used primarily in business and legal contexts to describe a specific contractual arrangement where independent entities combine resources for a defined project or period. It emphasizes the legal structure and shared responsibility, distinguishing it from looser collaborations or mergers. The term is common in international business and corporate communications.
Common phrases
- enter into a joint venture
- establish a joint venture
- joint venture with
- joint venture partner
- international joint venture
Synonyms
partnership · collaboration · alliance · cooperative venture · business partnership
A common mistake
Learners sometimes use 'joint venture' too casually for any cooperation between companies; it specifically refers to a structured, usually formal agreement with defined terms, not all business collaborations.
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