Definition
A joint venture agreement is a legal contract or partnership arrangement between two or more parties, typically companies or individuals, to collaborate on a specific project, venture, or business activity for a defined period. Joint ventures enable partners to pool resources, expertise, and risks to pursue mutual goals, such as entering new markets, developing new products, or undertaking large-scale projects. Joint venture agreements outline the rights, responsibilities, ownership structure, governance, and profit-sharing arrangements among the participating parties.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.