Quick Summary
Joint Ventures combine resources of two or more parties for a specific project or business.
Joint Ventures can be incorporated (company) or unincorporated (contractual). In incorporated JVs, parties hold shares in the JV company. In unincorporated JVs, parties share profits/losses as per agreement.
Key Points
- Collaboration between parties
- Can be incorporated or not
- Shared resources and risks
- Profit sharing agreement
- Common for large projects