joint venture


A contractual agreement joining together two or more parties for the purpose of executing a particular business undertaking. All parties agree to share in the profits and losses of the enterprise.

Use joint venture in a sentence

The owners of both businesses had finally come to an agreement, and, as such, they were equally excited about their joint venture.

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The two presidents shook hands, confirming the rumors that their companies were planning a joint venture to prevent either company from going under.

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A video distribution company and a company specializing in online streaming television are creating a joint venture that will combine their specialties and compete with Netflix.

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