Definition for : Joint venture
A joint venture is the company controlled jointly by a limited number of partners. The key factors determining joint control are: i) a limited number of partners sharing control (without any partner able to claim exclusive control), and ii) a contractual arrangement outlining and defining how this joint control is to be exercised.
(See Chapters Chapter 6 Getting to grips with consolidated accounts and Chapter 40 Setting up a company or financing start-ups of the Vernimmen)
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