Definition

Joint Venture (Ro: consorțiu, asociație în participațiune, grup de interes economic, companie mixtă, Gr.: κοινή επιχείρηση, Cz.: společné podnikání) (See also: business partnerships, corporate law, due diligence, shared management, risks, equity) = an association of two or more individuals or companies which share specific risks and benefits, for a pre-determined, usually short period of time, while each maintains its independence. Joint ventures were largely developed in the Common law systems, but in the past decades, the concept has been adopted and adapted by continental legal systems as well, under different forms. As a result of globalisation, joint ventures today are widely spread in the international arena.

~ agreement (contract/acord de ~) = the contract parties sign, comprising the terms and the contributions of each party in the association.

international ~ ( ~ international) = strategic alliance involving companies with an international reach, usually for easier market access, better knowledge transfer and combating geographical constraints.

 

Useful links

Publications

Campbell, D., Netzer, A., 2009, International Joint Ventures, Kluwer Law International

Porter Lynch R., 1989, The Practical Guide to Joint Ventures and Corporate Alliances: How to Form, How to Organize, How to Operate, Wiley

Steinhilber, S., 2008, Strategic Alliances: Three Ways to Make Them Work (Memo to the CEO), Harvard Business Review Press

Visconti, G., 2003, The Joint Venture, Voyageur Publishing

Wallace, R., 2004, Strategic Partnerships: An Entrepreneur's Guide to Joint Ventures and Alliances, Kaplan Publishing

Online publications

http://www.jurispub.com/cart.php?m=product_detail&p=11608 - Musat, M., 2011, International Joint Ventures, Bucharest

http://iveybusinessjournal.com/topics/strategy/the-international-joint-venture-a-discussion-with-professor-paul-w-beamish-2#.UrglC_QW2zg - Analysis on the utility of International Joint Ventures

http://www.manzellareport.com/index.php/strategies-section/310-is-international-expansion-through-a-joint-venture-or-foreign-acquisition-right-for-your-company - Pros and Cons on Joint ventures from companies’ perspectives 

http://www.imf.org/external/pubs/ft/fandd/1997/03/pdf/miller.pdf - Miller, R., Glen, J., Jaspersen, F., Karmokalias, Y., International Joint Ventures in Developing Countries, 1997

http://www.businessbrokeralberta.com/uploads/9/5/9/4/9594203/wp8-pros_and_cons_of_jv.pdf - Advantages and disadvantages of a Joint Venture

Practical use

http://www.inc.com/tools/joint-venture-agreement-template.html - Template for a Joint Venture Agreement

http://economictimes.indiatimes.com/news/international/business/renault-signs-joint-venture-agreement-with-state-owned-dongfeng-motor-group/articleshow/27455664.cms - Example of Recent Joint Venture

 

By Ioana Stupariu