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A joint venture agreement is a legal contract that brings together two entities, whether individuals or companies, to pursue a shared objective. In this video, e-forms, the largest database of fillable legal forms, explains the concept of joint ventures, differentiating them from partnerships. It highlights common applications for joint ventures, such as real estate developments, capital investments, and construction projects. The video also outlines how to create an effective joint venture agreement tailored to specific needs. A link is provided at the end for viewers to begin filling out a suitable agreement.