What is Joint Venture:

A activity or task to start-up new project or business. A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. In a joint venture (JV), each of the participants is responsible for profits, losses and costs associated with it. However, the venture is its own entity, separate and apart from the participants' other business interests. For more detail visit at http://www.365companies.com/joint-ventures/