Joint ventures has a disadvantage is that the firm risks giving control of its technology to its partner and the shared ownership can lead to conflicts for control.
What is meant by Joint ventures ?
A joint venture (JV) is a type of business agreement in which two or more parties concur to combine their resources in order to complete a certain task. New projects or any other business endeavors may be included in this duty.
In a JV, each partner is accountable for the venture's gains, losses, and expenses. Although distinct from the participants' other economic interests, the venture is nonetheless its own legal company.
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