joint venture

noun

joint ven·​ture
-ˈven-chər
1
: a cooperative business agreement or partnership between two or more parties that is usually limited to a single enterprise and that involves the sharing of resources, control, profits, and losses compare combination
2
: a criminal undertaking by two or more persons in which each intentionally takes part
used in the law of Massachusetts

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Cite this Entry

“Joint venture.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/joint%20venture. Accessed 13 Apr. 2024.

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