JV Partnerships
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What are JV Partnerships?
In legal terms, Joint Venture (JV) Partnerships refer to a business arrangement where two or more parties collaborate to undertake a specific project or business activity, sharing both the risks and rewards. Each party contributes resources such as capital, expertise, or assets, and a formal agreement outlines their roles, responsibilities, profit distribution, and decision-making powers.
A JV partnership is typically limited to a specific time frame or project, after which the venture may be dissolved or continued depending on the agreement's terms.
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