A joint venture is a contractual mode of foreign entry involving a high level of resource commitment by all partners.

Name: A joint venture is a contractual mode of foreign entry involving a high level of resource commitment by all partners.
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A JV will not typically require as high a resource commitment as we would see in wholly owned subsidiaries.In addition,there is significant variability in the level of resources contributed by partners.

A Joint Venture Is a Contractual Mode of Foreign Entry