A joint venture is a business arrangement in which two or more companies work together to achieve a common goal. In a joint venture, the participating companies typically pool their resources, including capital, personnel, and intellectual property, to undertake a specific project or venture. Each company retains its own separate legal identity and shares in the profits or losses of the venture.

Joint ventures can take many forms, such as a partnership, a corporation, or a limited liability company, and they can be established for a specific period of time or on a ongoing basis. Joint ventures can be used to enter new markets, develop new products or technologies, or access specialized expertise or resources.