Joint Venture

When two or more parties enter into an business agreement where resources are pooled for the purpose of delivering on a particular set of tasks.

Under such an arrangement each organisation retains its individual identity and is responsible for its own expenditure, profits and losses. They however come together in order to deliver services to a new market, benefit from a new series of skills, increase productivity, area coverage or business efficiency and/or tap into one another distributor networks to grow their respective company’s.