explain the function and aquement of a joint venture
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A joint venture is a business arrangement where two or more companies get into a temporary legal partnership. The purpose is to fulfill a purpose, project, or any business activity, and as soon as that purpose is fulfilled, the business venture can be called off.
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Function of Joint Ventures
Specific Purposes. Parties create joint ventures keeping pre-determined purposes in mind. ...
Agreement. The parties to a joint venture, i.e. the co-venturers, generally execute a written agreement between them. ...
Specific Duration. ...
Structure of the Venture. ...
Profit Sharing.
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