• 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.]
