joint venture (redirected from Joint adventure)

Joint venture

An agreement between two or more firms to undertake the same business strategy and plan of action. See: Incorporated joint venture and Unicorporated joint venture.

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Joint venture

An agreement between two or more firms to undertake the same business strategy and plan of action.

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joint venture

A business undertaken by two or more individuals or companies in an effort to share risk and use differences in expertise. For example, oil companies often enter into joint ventures on particularly expensive projects carrying a high risk of failure. See also consortium.