A contractual joint venture differs from a partnership in that

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A contractual joint venture is a specific relationship established for a limited duration to undertake a particular business project. This is different from a partnership, which is a general and ongoing business relationship that involves a fiduciary duty between partners, joint and several liability for debts and obligations, and shared profits and losses. In a contractual joint venture, each party retains ownership of its own assets and profits are typically shared according to the terms of the contract.

A Contractual Joint Venture Differs from a Partnership in That