Question

A multimillion-dollar u.s. project to construct a suspension bridge is in progress. true structures inc. in canada shares both profits and responsibilities for the project with three towers inc., a firm based in the united states. this is an example of a:

Answer 1

Answer: Joint Venture

A Joint Venture is a business entity that is created when two or more corporations pool in their resources for a specific project.

The corporations that are a part of the Joint Venture share the governance, risks and rewards of the joint venture.

In a Joint venture the corporations who come together to form a joint venture retain their distinct entities.