Practical Law Glossary Item 0-501-6816 (Approx. 3 pages)
Glossary
Joint Venture
A commercial collaboration between two or more independent entities, formed for either a single purpose project or a continuing business. Joint ventures can be formed:
As new entities, jointly owned or owned in an agreed proportion by the joint venture parties.
When one party buys an interest in an existing entity's start-up or developing business.
Through a contractual relationship without the use of a separate entity (sometimes referred to as alliances or strategic alliances).