an agreement between two or more parties to invest in a business. Such agreements involve the joint management of the business and the sharing of risks and profits The joint venture is a co-operation between several pharmaceutical companies.
- Company A has become part of the three-way joint venture.
- CAT Industries signed a joint venture agreement.
- The scheme is going to be a joint venture between the public and private sectors.
- All parties agree to share in the profits and losses of the joint venture.