A joint venture is much like a partnership except that it is formed for a specific limited purpose.

Name: A joint venture is much like a partnership except that it is formed for a specific limited purpose.
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A joint venture is a business arrangement in which two or more parties agree to pool their resources for a specific project or limited period of time. It is similar to a partnership, but it focuses on a single project or enterprise rather than a continuing business relationship.

A Joint Venture Is Much Like a Partnership Except That