A partnership under which the participants have contractually agreed to contribute specified amounts of money and expertise in exchange for stated proportions of ownership and profit is called a(n) ________.

Question

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A joint venture is a type of partnership where the partners agree to contribute money, expertise, and other resources to undertake a specific project or business activity. In exchange, they share ownership and profits according to their agreed-upon proportions. S corporations, GmbHs, and S.A.R.L.s are all different types of legal structures for businesses, but they do not necessarily involve partnerships.

A Partnership Under Which the Participants Have Contractually Agreed to Contribute