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You have probably heard the term ‘Joint Venture’ on more than one occasion. You may even have a vague idea of what a joint venture is. The technical definition of a joint venture is ‘an agreement between two or more businesses to mutually accomplish a business objective.’ That definition is definitely correct, but it doesn’t fully explain what a joint venture is, or what it entails.
A joint venture is exactly what it sounds like. It is a venture that two or more people or businesses undertake to reach a common goal. However, the goal isn’t always the same for all parties in the venture.
Joint Ventures do not always have monetary outcomes. The goals of a venture can also include recognition, providing needed information to the public, building a list of subscribers, or even as a lead in to another product or business venture that will result in monetary gain. Joint Ventures can even be used to grow a mailing list.
Joint Ventures are not always even business related. Two individuals can go into a joint venture for a variety of reasons. Also, Joint Ventures can involve more than two people or businesses. You might have a joint venture that involves many people.
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| File Type | ZIP |