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Need for Joint Venture

When a person may buy goods at a much cheaper rate, but he has no capital; a second person may perhaps advance the requisite capital, but has no business acumen; while a third person is a good salesman and can sell the goods readily at a good margin. In a case like this, it is advantageous for all the three to combine their energy and work for mutual gain.

As a joint venture is not likely to spend a lot of time in the partnership, the method of joint venture is preferred, because it does not require the same level of involvement from the parties as in case of a partnership. Construction projects are many times the result of joint ventures.

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