Final answer:
A new corporation created by two partnering organizations that remains independent is known as a Joint venture. Unlike mergers and acquisitions, a joint venture is a separate entity formed for a specific project or business activity.
Step-by-step explanation:
Given that a new corporation created by two partnering organizations remains independent, the correct answer is c. Joint venture. Unlike an acquisition, where one firm purchases another, or a merger, where two firms combine to form a single entity, a joint venture is a business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task.
This task is usually a project or a business activity. In a joint venture, each of the participants is responsible for profits, losses, and costs associated with it. However, the venture is its own entity, separate from the participants' other business interests.