What is meant by jointventures?

A joint venture is a business arrangement in which two or more parties collaborate to undertake a specific project or business activity, sharing resources, risks, and profits. Each party typically maintains its separate legal status while contributing assets, expertise, or capital to the venture. Joint ventures are often formed to leverage complementary strengths, enter new markets, or share the financial burden of a project. They can be temporary for a specific project or ongoing for a longer duration.