Wave Motors Inc.,a Kempa-based automobile company,has entered into a partnership with Sphere Autos Inc.,headquartered in United Cadvia.The parent companies,together,have established a stand-alone firm called Genuine Autos Inc.This arrangement best exemplifies a

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The arrangement between Wave Motors and Sphere Autos best exemplifies a joint venture. A joint venture (JV) is a stand-alone organization created and jointly owned by two or more parent companies. Joint ventures are also frequently used to enter foreign markets where the host country requires such a partnership to gain access to the market in exchange for advanced technology and know-how.