Concreate Development requires architects to design its latest venture-a 64-story skyscraper. It makes a business arrangement with Excellent Architecture and acquires four architects on contract for the ongoing project. This is an instance of a ________.

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This is an instance of a joint venture because Concreate Development has made a business arrangement with Excellent Architecture to work together on the project, and both companies will share the risks, costs, and profits of the project. The fact that Concreate Development has acquired four architects on contract from Excellent Architecture also indicates a joint venture rather than a licensing arrangement or franchise. A limited partnership involves two or more partners where one or more have limited liability, which does not apply in this scenario.

Concreate Development Requires Architects to Design Its Latest Venture-A 64-Story