joint venture

A business undertaking by two or more persons engaged in a single defined project.

• The necessary elements are: (1) an express or implied agreement; (2) a common purpose that the group intends to carry out; (3) shared profits and losses; and (4) each member’s equal voice in controlling the project.

— Also termed joint adventure; joint enterprise. Cf. PARTNERSHIP; STRATEGIC ALLIANCE. [Cases: Joint Adventures 1.1, 1.2. C.J.S. Joint Ventures §§ 2–3, 10, 12–13, 20.]

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词条贡献者

译者圣强，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，擅长翻译各种与房地产交易及建筑纠纷相关的法律文件。