Definition
A "joint venture" is a business agreement where two or more parties pool their resources to achieve a specific goal. 🤝 It's like forming a super-team for a limited time to tackle a big project. Unlike a merger, a joint venture is temporary and focused. Think of it as a collaboration where each member brings unique skills and shares the risks and rewards. It allows companies to enter new markets or share expertise. It is used to accomplish a very specific task, not build something new together from the ground up.