Final answer:
An alliance is the type of integration that does not involve any joint ownership of assets, allowing companies to collaborate while maintaining separate ownership.
Step-by-step explanation:
A type of integration that does not involve any joint ownership of assets is an alliance. In such a business relationship, companies collaborate without the merger of their assets into a single entity. Unlike a merger or an acquisition, where there is a transfer of ownership or the creation of a new, jointly-owned business, alliances allow companies to retain their independence and ownership of assets while working together towards common goals or projects.
In contrast to alliances, mergers involve the combination of two firms into one new entity, with shared ownership of assets and operations. Similarly, acquisitions occur when one company purchases another and obtains control over its assets. In some cases, the acquired firm may continue to operate under its former name and management, but it is still owned by the acquiring company. Joint ventures also involve the creation of a new entity co-owned by the participating businesses and hence entail some level of shared ownership of assets.