An agreement between two or more firms to undertake the same business strategy and plan of action. Bloomberg Financial Dictionary
See: incorporated joint venture and unicorporated joint venture. Bloomberg Financial Dictionary
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joint venture UK US noun [C] (also joint partnership, ABBREVIATION JV) COMMERCE, MANAGEMENT
► an arrangement between two or more companies to work together on a particular project: »
The two companies have entered into a joint venture agreement to develop a major casino hotel in Atlantic City.
Financial and business terms. 2012.