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practice

Joint Ventures

{h1}Joint Ventures{/h1}
In a joint venture, the members are co-owners of the business enterprise and share profits and losses.  A joint venture is distinct from a partnership in that it is usually formed for a single project or transaction or a series of transactions.  While a partnership is usually intended to be a continuing business for an indefinite period of time, a joint venture is limited in scope and duration.

Though no formal filings are required for a joint venture, it is highly recommended that the joint venturers enter into a written agreement to govern their conduct throughout the life of the venture.