Joint venture

Type of business entity

A joint venture (JV) is formed when two or more distinct firms combine a portion of their resources to form a separate, jointly-owned entity. Joint ventures differ from mergers and acquisitions. Companies may pursue joint ventures for multiple reasons: to access a new market, particularly an emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities.

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