A Joint Venture is a business arrangement between two or more parties, that are otherwise individual and separate entities, usually having shared ownership, including risks, and governance. The purpose of joining funds and ownership is usually for a pre-determined task like a new project or any business activity. A Joint Venture is its own entity, and differs from the other parties’ businesses. A Joint Venture is usually bound to a specific target and is usually less permanent and complex than a permanent business partnership.