McHugh Corporation of Ireland and Enomoto Enterprises based in Japan recently produced a new electric car with rechargeable batteries that can be driven at high speeds for long distances.They have shared the investment,each contributing important technological expertise to the effort.These firms entered into an)____ to build this car.

Question

Quizplus · Accepted Answer

A joint venture is a business agreement between two or more companies to work together on a specific project or venture, while retaining their own individual identities. In this case, McHugh Corporation and Enomoto Enterprises collaborating to produce a new electric car with their respective technological expertise is an example of a joint venture. The other options given, such as multinational cartel, industrial countertrade agreement, and multinational limited partnership, do not accurately describe the nature of the collaboration.

McHugh Corporation of Ireland and Enomoto Enterprises Based in Japan