A joint venture (JV) is referred to a type of business arrangement, where two or more persons (Legal or Natural) agree to accomplish a specific task, such as building a Hotel. In a joint venture (JV), each of the participants is responsible for profits, losses, costs and liabilities associated with it. However, the venture is a separate entity, distinct and apart from the owners and operators.
Although a Joint Venture is a form of partnership, it can be a Corporation, Partnership or a Limited Liability Company.
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