jointventure
nounUK /ˌdʒɔɪnt ˈventʃə/
US /ˌdʒɔɪnt ˈventʃər/
A joint venture is when two or more people or companies work together on a project.
The two toy companies started a joint venture to make a new board game.
OTHER MEANINGS
2. A business entity created by two or more parties who share ownership and risk.
The joint venture was registered as a separate company with shared profits.
3. Any cooperative effort between separate groups to achieve a shared goal.
The schools formed a joint venture to build a community garden.
4. In law, a commercial arrangement where parties pool resources for a single undertaking.
Their joint venture agreement set out how costs and losses would be divided.