Answer: B. Joint venture.
Step-by-step explanation:
Joint venture is a type of business in which two or more persons or organizations under certain agreements pools resources together to start a business, or project. Such business is characterized by shared returns, governance, risks, and ownership.
A good example is between BMW and Toyota in which they operate a joint venture in carrying out research on vehicle electrification, hydrogen fuel cells, and ultra lightweight materials for car production.
Characteristics of Joint venture includes:
•It creates synergy between all parties involved.
•Risk and rewards are shared between all involved parties.
•There are no separate laws that guides them.