As the name says, joint venture that is a temporary arrangement to work on projects. Joint ventures typically occur when a single person might not have all the funds to fund a high cost project and also not in a position to take such high risk and so he/she is on a look out to joint venture development, this typically happens in real estate projects. Joint ventures are usually limited to one or few projects and the longevity of the venture depends the success of the previous projects in joint venture. To remain in joint venture it is absolutely imperative to be honest, integrate, and remain loyal to other partner(s). The joint venture agreement is usually executed on an e stamp paper and signed by all the partners. Joint venture works best when each partner has something unique contribution for the project, either in terms of knowledge, technology, and/or expertise and it also is tax a advantage.
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