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A foreign venture agreement is a legal contract between two entities, such as individuals or companies, aimed at achieving a shared objective. This video tutorial discusses key concepts including the definition of a joint venture, its distinction from a partnership, typical applications, and guidance on creating an effective joint venture agreement. Joint ventures often arise when parties lack the necessary resources or capacity to meet their goals independently. Common examples include real estate development, capital investments, and construction projects. Viewers are encouraged to click a link at the video's end to access a customizable joint venture agreement tailored to their needs.