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A joint venture agreement is a legal contract that brings together two entities—individuals or companies—to pursue a shared goal. This video outlines the definition of a joint venture, distinguishes it from a partnership, and discusses common applications for joint venture agreements. It emphasizes that joint ventures are formed when the parties involved do not have the individual capacity or resources to achieve their objectives alone. Typical uses for joint ventures include real estate development, capital investments, and construction projects. The video also guides viewers on how to create a joint venture agreement tailored to their specific needs.
