Nothing to do with what California and other states have now legalized in the modern era. Instead, a joint venture is a kind of partnership, usually held between two loving companies that bring disparate but needed skills to the table.
Like...many American internet media companies were great in the U.S., but a load were terrible overseas. They didn't understand local culture, regulations, and core asset allocation needs. So they JV'd with local media companies to make things work.
To wit, Yahoo Japan today still...exists, despite massive competition, because the company JV'd with Softbank who was "the" media power player in Japan at the time.
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Finance: What is a partnership?23 Views
finance a la shmoop. what is a partnership? a marriage. joint ownership
of a bar. when two dudes put up half the dough each to share 50/50 in a time [two different people offer money for keys]
machine. well a partnership is just the merging
of two individuals in doing a given business deal or setting up a business
structure. if both are owners then both are liable for you know bad things
should they happen. partnerships carry a lot of financial danger if one partner
goes off the rails and decides to commit fraud in the name of the company or that
evil partner enters into a stupid company bankrupting contract, well then [bad contract sold to unsuspecting victim]
both parties pay for it. the innocent partner pays just as much in the form of
whatever financial damages befall the partnership as the evil one, and
partnership liabilities include personal assets if the partnership is structured
like a general partnership with limited partners having no personal liability so [ liability structures defined]
for all the good that a partnership can have it can get bad and ugly so you got
to enter partnerships carefully. spend lots of dough on lawyers before you set
it up so you don't have to after. [money exchanged for partnership contract ]
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