A joint venture (JV) is a business arrangement where two or more parties agree to pool resources for a specific objective while remaining independent entities. JVs are a common market entry strategy in international business.
Defining a Joint Venture A joint venture (JV) is a business arrangement in which two or more independent firms agree to combine resources — capital, technology, expertise, or market access — to pursue a specific business objective. Each partner retains its independent identity and legal status while sharing ownership, risks, returns, and governance of the new venture. Joint ventures are one of the most widely used strategies for international market entry, particularly in countries where full fo