joint venture (B2)
noun phrase
Pronunciation: /ˈdʒɔɪnt ˈvɛntʃər/
Definition
A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. All parties are responsible for the profits, losses, and costs associated with it.
Examples
The two tech giants formed a joint venture to develop a new artificial intelligence platform.
Establishing a joint venture allowed the small startup to access the larger company's distribution network.
They decided against a full merger, opting instead for a joint venture to explore the new market segment.
How to Use joint venture
- joint venture with (prepositional phrase)
- A joint venture formed in cooperation with another entity. — "The company formed a joint venture with a Chinese manufacturer."
- joint venture between (prepositional phrase)
- A joint venture involving two or more specified entities. — "The project is a joint venture between the government and a private consortium."
- joint venture for (prepositional phrase)
- A joint venture created for a specific purpose or project. — "They initiated a joint venture for offshore wind farm development."
Synonyms of joint venture
Words with a similar meaning to joint venture:
Antonyms of joint venture
Words with the opposite meaning to joint venture:
Browse the full Anaversity dictionary