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joint ven·ture /-'ven-chər/ n1: a cooperative business agreement or partnership between two or more parties that is usu. limited to a single enterprise and that involves the sharing of resources, control, profits, and losses compare combination2: a criminal undertaking by two or more persons in which each intentionally takes part— used in the law of Massachusetts
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
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When two independent businesses wish to combine forces in a business project, they may form a joint venture to operate the new project as a separate enterprise. This can take the form of a simple contractual arrangement, a partnership or a joint venture company.
Easyform Glossary of Law Terms. — UK law terms.
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n.A commercial enterprise similar to a partnership, in which two or more parties join together for the purpose of carrying out a single commercial enterprise, for which they share assets, liability, and control.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
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an association of persons formed to carry through a single piece of business, as opposed to a partnership, which implies continuity of business. Nevertheless, in the absence of a specific corporate form being employed, partnership principles apply to joint ventures. The accounting treatment of joint ventures differs according to the magnitude of the venture. The point is that if the venture is of sufficient magnitude to warrant a distinct set of books being kept, no special book-keeping treatment is necessary. However, if the books of each participant record only such transactions as affect him directly, special treatment is necessary. In such cases the practice is for each party to open one account only, that account specifically relating to the venture; in that account are recorded all payments made and all sums received by the person in connection with the venture.
Collins dictionary of law. W. J. Stewart. 2001.
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An enterprise entered into by two or more people for profit and for a limited purpose, such as the purchase or improvement of real estate. A joint venture has most of the elements of a partnership, except that it anticipates a defined period of operation after which it terminates.Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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1) This is a term of art to describe formal co-operation between two or more companies. A joint venture can be a simple contractual arrangement or structured as an independent company. Joint ventures are heavily regulated by competition law. You must speak to a member of the legal department if you are considering a joint venture.2) This term has no specific meaning in English law. It describes a commercial arrangement between two or more economically independent entities that can take a number of legal forms for the purpose of executing a particular business undertaking.3) This is a term of art to describe formal co-operation between two or more companies. A joint venture can be a simple contractual arrangement or structured as an independent company.Related links+ joint ventureUSAA commercial collaboration between two or more independent entities, formed for either a single purpose project or a continuing business. Joint ventures can be formed:• As new entities, jointly owned or owned in an agreed proportion by the joint venture parties.• When one party buys an interest in an existing entity's start-up or developing business.• Through a contractual relationship without the use of a separate entity (sometimes referred to as alliances or strategic alliances).For more information, see Practice Note, Joint Ventures: Overview (www.practicallaw.com/0-380-9579).
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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n. An unincorporated business venture with two or more participants who share the financial risk and gain.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
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An association of two or more individuals or companies engaged in a solitary business enterprise for profit without actual partnership or incorporation; also called a joint adventure.
Dictionary from West's Encyclopedia of American Law. 2005.
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An association of two or more individuals or companies engaged in a solitary business enterprise for profit without actual partnership or incorporation; also called a joint adventure.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
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n.an enterprise entered into by two or more people for profit, for a limited purpose, such as purchase, improvement and sale or leasing of real estate. A joint venture has most of the elements of a partnership, such as shared management, the power of each venturer to bind the others in the business, division of profits and joint responsibility for losses. However, unlike a partnership, a joint venture anticipates a specific area of activity and/or period of operation, so after the purpose is completed, bills are paid, profits (or losses) are divided, and the joint venture is terminated.See also: partnership
Law dictionary. EdwART. 2013.
