How do joint ventures differ from private corporations?

Question

Quizplus · Accepted Answer

Joint ventures and private corporations differ in various ways, one of which is decision-making. In a joint venture, decisions cannot be made unilaterally by one venturer; instead, all parties must agree on decisions affecting the joint venture. Private corporations, on the other hand, have a board of directors who make these decisions. Therefore, option C is the correct answer. Option A is incorrect because joint ventures can have a board of directors but may not necessarily. Option B is incorrect because a joint venture can involve more than two parties. Option D is incorrect because sharing of risks and profits can vary depending on the agreement between the parties in a joint venture.

How Do Joint Ventures Differ from Private Corporations