A joint venture (often abbreviated JV) is defined in the dictionary as a legal contract formed between two or more parties to undertake economic activity together.
In simple english, it just means that people get together to make a success of something created either jointly or by one and promoted by another ar all involved.
Everyone shares the profits generated and all are happy.
Individuals and companies do joint ventures all the time… out in the real world as well as in cyberspace and the joint venture is one of the better kept secrets of Internet marketing.
The idea is as old as civilisation, the cavemen probably found out that by
pooling their efforts they could more easily feed and clothe themselves, as by sharing talents and resources, so much more can be accomplished than any one individual or company could accomplish alone. That’s why so many individuals and companies enter into joint venture agreements. Joint ventures are the stuff that fortunes are made of.
One of the better known joint ventures of modern times is the one that Bill Gates, of Microsoft entered into with IBM, the giant of the electronics industry.
Bill Gates had co-developed DOS while IBM had market share. The rest, as they say, is history. Just think what our world would be like if that joint venture had never happened. By the way-Bill Gates was a billionaire before he was 31!!
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