| 单词 | joint venture |
| 释义 | joint venture joint venture A commercial undertaking entered into jointly by two or more entities. Joint ventures are generally governed by the Partnership Act 1890 but they differ from partnerships in that they are limited by time or by activity. Separate books are not usually kept and the joint venturers will have a profit- or loss-sharing ratio for the purpose of the joint venture only. Joint venturers often carry on their principal businesses independently of, and at the same time as, the joint venture. Joint ventures have become increasingly common as companies cooperate with each other in international markets, in order to share costs, exploit new technologies, or gain access to new markets. According to the Financial Reporting Standard Applicable in the UK and Republic of Ireland (Section 15), a joint venture only exists where strategic decisions require the unanimous consent of all the parties to the venture. |
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