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A joint venture agreement is a legal contract between two entities, such as individuals or companies, aimed at achieving a shared goal. This video tutorial discusses the nature of joint ventures, highlighting the differences between joint ventures and partnerships. It outlines common applications for joint ventures, including real estate development, capital investments, and construction projects. Additionally, the video provides guidance on creating effective joint venture agreements tailored to specific needs. Viewers can access a link at the video's conclusion to begin filling out a suitable agreement for their situation.