Which of the following terms is used to refer to a collaborative venture which results in a new legal entity?

Question

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A joint venture refers to a business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a joint venture, each of the participants is responsible for profits, losses, and costs associated with it. Importantly, the venture itself is an entity, legally distinct from the participants' other business interests.

Which of the Following Terms Is Used to Refer to a Collaborative