Joint Venture
The term joint venture stands for various forms of cooperation between at least two or more companies which establish a longer-term partnership within the framework of a contract (so-called contractual venture) or by founding a legally independent company (so-called equity joint venture). When an independent company is founded, the companies involved often have an equal equity stake with shared economic control. For this purpose, a cooperation agreement (so-called joint venture agreement) is often concluded regarding joint operation of the company, capital to be contributed, know-how, etc. In the case of a contractual joint venture, on the other hand, no joint company is founded, but only a joint venture agreement is concluded.