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joint venture [JV]

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New firm formed to achieve specific objectives of a partnership like temporary arrangement between two or more firms. JVs are advantageous as a risk reducing mechanism in new-market penetration, and in pooling of resource for large projects.
(Read more: http://www.businessdictionary.com/definition/joint-venture-JV.html#ixzz2LB1bZV4z)

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