Joint venture
bj123456 (student) (69 Points)
18 December 2013
Shelsa
(.Articled Assistant)
(29 Points)
Replied 20 December 2013
A Joint Venture is a contractual arrangement between two parties that is undertaken to complete a specific task whereas;
A partnership is an agreement between two parties wherein both the parties agree to share profits and losses of the activity undertaken.
Thus in a JV, a separate entity is formed that ceases to exist on completion of the task agreed whereas, a partnership firm continues operations until dissolved and formation of a separate entity is not necessary.
Abhishek Kumar
(student)
(371 Points)
Replied 20 December 2013
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