Robert Mondavi Wineries entered into an agreement with Baron Philippe de Rothschild, owner of Bordeaux's First Growth chateau, to produce a top quality wine in California. The two companies working together to create a new product is an example of ____.
A)exporting
B)licensing
C)a joint venture
D)a cooperative contract
E)a wholly-owned subsidiary

Question

Quizplus · Accepted Answer

A joint venture is when two or more parties collaborate to undertake a specific business project, sharing resources, risks, and profits. In this case, Robert Mondavi Wineries and Baron Philippe de Rothschild are collaborating to produce a new wine.

Robert Mondavi Wineries Entered into an Agreement with Baron Philippe