joint venture

joint venture

joint venture A business undertaking by two or more persons engaged in a single defined project. ? The necessary elements are: (1) an express or implied agreement; (2) a common purpose that the group intends to carry out; (3) shared profits and losses; and (4) each member’s equal voice in controlling the project. ¡ª Also […]

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JOINT VENTURE

JOINT VENTURE joint venture. A business undertaking by two or more persons engaged in a single defined project. ? The necessary elements are: (1) an express or implied agreement; (2) a common purpose that the group intends to carry out; (3) shared profits and losses; and (4) each member’s equal voice in controlling the project.

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