Joint Ventures - Explained

A joint venture is similar to a partnership but involves two or more entities working together for a specific task or purpose while maintaining autonomy. These ventures are governed by agreements and have defined objectives, such as entering new markets or completing real estate projects. Once the task is completed, the venture ends, allowing entities to avoid general partnership rules.

How do the parties involved in a joint venture maintain autonomy?

What happens to the relationship between parties in a joint venture once the specific task is completed?