BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Although a joint venture is very similar to a partnership, a joint venture is generally more limited in scope and duration. A joint venture is generally considered to be a partnership for a single transaction. The rights and liabilities of joint venturers are governed by the principles applicable to partnerships.

Detailed explanation-2: -Most parties to a joint venture will be limited partners and will contribute capital to the joint venture. The general partner has unlimited liability in the joint venture thus this partner will generally be a limited liability company.

Detailed explanation-3: -Noun. [ah-ly-ince] In business, an alliance occurs between two companies that work together on mutually beneficial projects. These agreements are also called strategic alliances, and they usually involve cooperation in the development, creation, marketing, and sale of products or services or other objectives.

Detailed explanation-4: -A joint venture is a combination of two or more parties that seek the development of a single enterprise or project for profit, sharing the risks associated with its development. The parties to the joint venture must be at least a combination of two natural persons or entities.