Joint Ventures

A joint venture, or "JV," is a business agreement, made by two or more parties, who choose to split the costs of a project or investment in equal ways, and in doing so share ownership. Companies partake in joint ventures so that in the case of their project not being successful, neither owner will have to take the brunt of the failure on their own. The use of joint ventures is practiced all over the world, foreign and domestic to the United States.[1]

Process of Joint Ventures

• Begin your particular joint venture process by making sure your agreement or business model is as completed and clear as can be. "Put the details in writing, including the goals, financial contributions, personnel, governance policy, and expected length of the deal, to help ensure the project's success and protect your company from legal issues," as mentioned in the Time Magazine article, "Small Business Tip of the Day: Forming a Joint Venture." [2]
• Make sure, too that your partner is the right fit for you. More information on how to decipher this can be found [3].

Benefits

• Other than their cautionary and monetary saving and gaining benefits, joint ventures can give both small and large businesses access to network resources.

Strategies

• Brian L. Ott and Robert L. Mack, the authors of the media and communications textbook, "Critical Media Studies: An Introduction," and subsequent professors of media studies at the University of Colorado, Denver, and at the University of Texas at Austin, said of joint ventures that, "another reason [why] media conglomerates might join forces [in using joint ventures] is to expand their control in a particular industry.

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