أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
I agree with the other gentlemen concerning their answers.
Good answer by both Mr. Ibrahim, and Mr. Saleem. I echo with them..
A Joint Venture can be termed as a contractual arrangement between two companies, which aims to undertake a specific task. Where as partnership involves an agreement between two parties wherein they agree to share the profits as well as take the burden of loss incurred.
The main differneces are usually a matter of finance, operational and legal.
A Joint Venture is when two or more entities agree to work together towards a common goal. Each will make consessions and the other parties out. Their finance and operations remain separate. and they are not liable for the debt of others except for thos what included in the venture. It is formed by a legal contract en does need legal declaration
A partnership is when two or more independent parties join forces to form a new entity. The finance and operations become joined and each party will be liable for the other parties. Partnership is formed under specific regulations and covered by a legal body (such as Chamber of Commerce).
A joint venture company is a partnership limited to a particular venture,
does not make use of a firm’s name,
all the parties agreeing to contributing capital towards the venture and to share the profit or losses.
its
* - Specific
* - Unstable
* - Not a full partnership
When two or more individuals, groups, companies or corporations decide to jointly participate in business activities, they may enter into a partnership. Partnerships are governed by partnership agreements. Joint ventures are special types of partnership, and a joint venture agreement should cover additional factors not necessarily needed in a partnership agreement.
Partnership
A partnership involves two or more individuals, groups, companies or corporations. Each partner participates in business operations and is liable for company actions. Business debts and profits pass through to the partners. In a general partnership each partner is individually liable for the company’s actions and debts. In a limited partnership the general partner is the managing partner with full responsibility and liability for the company’s actions while the limited partner has limited liability and usually only provides capital and shares in the profit without participating in management of the business.
Joint VenturesJoint ventures are typically short-term partnerships between two or more individuals, groups, companies or corporations. Entities usually engage in joint ventures for a single purpose, such as to access new markets or to share costs. Once established, a joint venture can structure its business as a general partnership; a limited partnership; a corporation, which is treated as an individual with its own assets, liabilities and taxes; or a limited liability company, which limits partner liability and allows pass through of profits. The governing laws for joint ventures depend on the scope of the partnership and the type of structure established to conduct business.
Only the points of difference;
1- Its a contractual agreement for a specific period till its completion or before it ends
2- One party provides service while other may provide finance
3- Its a agreement between one or more entities
