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lets talk today about some of the key differences between a joint venture and a teaming agreement a lot of times i see these two things confused in the market and so i want to try to help you figure this out a little bit today so a joint venture is a legal entity so when i create a joint venture thats what im creating im literally registering a company name with whatever state it is that youre going to register it in im going getting bank accounts and all those types of things just like you were setting up a brand new company the only difference is theres one owner typically your company and the second owner another company whether its a big company a large company whatever it is theres two different companies that own the joint venture hence the name its a joint venture and so that is a legal entity has to file taxes all those different things all that stuff applies and people talk about this a lot when they are thinking about the mentor protege program thats when joint ven
