Two organizations cease to exist, and a new corporation is formed.

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A merger is when two or more organizations come together to form a new corporation, and cease to exist as standalone entities. This is different from an acquisition, where one organization takes over another, and the acquired company may still operate under its original name. A joint venture is a partnership between two or more organizations, but they still exist independently. An alliance is typically a less formal agreement between two or more organizations to work together on a particular project or goal, but they also remain separate entities.

Two Organizations Cease to Exist, and a New Corporation Is