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A joint venture agreement is a legal contract that connects two entities, either individuals or companies, to pursue a common goal. The video tutorial from e-forms, the largest database of fillable legal forms, explains the concept of joint ventures, distinguishing them from partnerships. It discusses common applications for joint ventures, such as real estate developments and capital investments, and outlines the process of creating an effective joint venture agreement tailored to individual needs. The video encourages viewers to click a link at the end for guidance on filling out an agreement suited to their specific circumstances.