Concreate Development requires architects to design its latest venture-a 64-storeyed skyscraper.It makes a business arrangement with Excellent Architecture and acquires four architects on contract for the ongoing project.This is an instance of ________.

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This scenario is an example of a joint venture, as Concreate Development and Excellent Architecture are collaborating to work on a specific project - designing the 64-storeyed skyscraper. The contract between the two companies and the acquisition of architects on a contract basis exemplifies a partnership in which the parties involved pool their resources to achieve a common goal. A licensing arrangement involves one party licensing the rights to a product, whereas a franchise involves a business model in which a franchisee pays for the right to use the franchisor's brand name and operating system. A limited partnership involves one general partner with unlimited liability and at least one limited partner whose liability is limited to their contribution to the business.

Concreate Development Requires Architects to Design Its Latest Venture-A 64-Storeyed