What is joint venture
When 2 business agree to join together for a common purpose and mutual benefit , it gives rise to a joint venture.
When two or more firm join together to improve their business it is joint venture
When two or more co. Join together to form a new enterprise then it is known as joint venture. Ex: maruti co. of India and Suzuki co. of japan joined to form maruti suzuki India ltd.
A joint venture is the pooling of resources and expertise by two or more businesses to achieve a particular goal,viz.,business expansion,development of new products, moving into new markets,particularly in another country