Joint ventures are similar in structure and organization to minority holdings by a multinational company in a local firm.

Question

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Joint ventures involve a partnership between two or more companies to undertake a specific project or business activity together, sharing resources, risks, and profits. In contrast, minority holdings refer to a multinational company owning less than 50% of a local firm's shares, without necessarily engaging in a collaborative project or sharing operations.

Joint Ventures Are Similar in Structure and Organization to Minority