The formation of a new corporation, jointly owned by two or more companies agreeing to share in the revenues, expenses, and control, is known as

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A joint venture is the formation of a new corporation by two or more companies agreeing to share in the revenues, expenses, and control. The other options, such as a limited liability company, partnership, sole proprietorship, and S corporation, are different legal structures for businesses that do not necessarily involve joint ownership by two or more companies.

The Formation of a New Corporation, Jointly Owned by Two