Final answer:
The statement falsely claims proprietors only had to collect profits; in reality, they had numerous responsibilities. Also, a joint venture does not typically involve a firm providing a strategy for fees, which is more characteristic of a franchise agreement.
Step-by-step explanation:
In a proprietary colony, it is false that the proprietors have no responsibilities except to collect profits. Proprietors in such colonies had multiple responsibilities including governance, administration, and ensuring the colony's welfare. The statement presented in the question describes a business arrangement that does not necessarily correspond to a joint venture, but rather to a franchise model. In a joint venture, two or more parties come together to undertake economic activity, sharing both the risks and rewards. A venture capitalist is a different concept altogether, which refers to an investor providing capital to a business in exchange for equity, without an obligation to provide a sales or service strategy.
\A joint venture is a business arrangement between two or more companies to work together on a specific project or business activity. In this type of partnership, each firm brings different resources and expertise to the venture.
One company may have a specialized sales or service strategy that they can offer to the other firm. The firm receiving the strategy benefits from the expertise of the other company and pays them periodic fees for their services.