What are the salient features of joint ventures? Explain
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Explanation:
Salient Features of Joint Venture
Pooling of resources and expertise: Firms pool their resources like capital, manpower, technical know-how, and expertise, which helps in large-scale production. Sharing of profit and loss: The co-venturers agree to share the profits and losses of the business in an agreed ratio.
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Answer:
Salient Features of Joint Venture
Pooling of resources and expertise: Firms pool their resources like capital, manpower, technical know-how, and expertise, which helps in large-scale production. Sharing of profit and loss: The co-venturers agree to share the profits and losses of the business in an agreed ratio.
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