An important use of joint ventures in cross-border situations is:

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Cross-border joint ventures are often used to access local financing, subsidies, or incentives. A company from one country may not have access to these resources without a local partner. By forming a joint venture, the companies can combine their strengths and resources to create a new entity that can take advantage of these opportunities. This allows both companies to benefit from the joint venture and to gain a foothold in a new market.

An Important Use of Joint Ventures in Cross-Border Situations Is