These are new initiatives undertaken jointly by two entities and may involve a specific activity or the creation of a new entity jointly owned by the two partners.

Question

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Joint ventures involve two entities coming together to undertake a specific activity or create a new entity jointly owned by the two partners. Corporate partnerships may involve joint initiatives, but they are not necessarily joint ownership arrangements. Nonprofit enterprise and nonprofit business ventures are not relevant to this type of partnership.

These Are New Initiatives Undertaken Jointly by Two Entities and May