A contractual arrangement whereby two or more parties undertake an activity which is subject to joint control

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A joint venture is a contractual agreement between two or more parties who agree to share resources and expertise to accomplish a specific task or business goal. In a joint venture, the parties involved have equal control and decision-making power over the venture, sharing both the profits and risks. This arrangement is commonly used for international business ventures, as it allows companies to leverage their strengths and resources while mitigating risks and costs.

A Contractual Arrangement Whereby Two or More Parties Undertake an Activity