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A joint venture is a kind of temporary trading relationship between two or more parties who undertake jointly to carry out a specific project or venture like construction of roads or bridges,underwriting of shares etc.
The parties may be individuals, partnership firms,companies etc.When the venture or project will be completed a trading relationship between co-ventures comes to an end.A person can also become a co-venture without contributing any capital in cash just because of his wisdom for example an engineer.
There is no specific name of the firm.Profit of the joint venture is the difference between total cash received and total cash paid.Joint venture can’t be a continuing partnership because end or termination is certain.So it is not a going concern.After the venture will finish the business will get dissolved.
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7 Comments. Leave new
Good work..!
Thanks
Good effort
Could have explained more.. but yeah.. well written..
Nice one
SHort one 🙁 .
you should have added somemore points and a suitable live example because this can explain the concept in a much better way 😀
But need not to say 😀 i lihed the way you started and after reading its was like i wanted some more 😀
Good content 😀
good job! great efforts