How do joint ventures differ from private corporations?

Question

Quizplus · Accepted Answer

Joint ventures differ from private corporations in that venturers cannot make unilateral decisions. In a joint venture, all parties must agree and make decisions together, whereas in a private corporation, decisions are made by a board of directors or a single owner. The other choices are not true - joint venturers do not have to share risks and profits equally, there can be more than two parties in a joint venture, and some joint ventures may have a board of directors.

How Do Joint Ventures Differ from Private Corporations