A joint venture, or abbreviated as JV and sometimes called joint adventure, is a tactical union flanked by two or more parties to embark on a financial activity together. This alliance agrees to create a new entity together by both contributing equity and they then share in the revenues, expenses, and control of the enterprise.
The venture can be for one specific project only, or a continuing business relationship such as the Sony Ericsson joint venture.
Organizations can also form joint ventures, for example, a child welfare organization in the Midwest initiated a joint venture whose mission is to develop and service client tracking software for human service organizations. The five partners all sit on the joint venture corporation’s board, and together have been able to provide the community with a much-needed resource.
Joint ventures are more common in the oil and gas industry, and often are dealt within corporations on the national and local levels. A joint venture I always seen as something good in this kind of business industry and a very good alternative in this sector as local companies can complement their skills and technology sets while it...
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