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A joint venture agreement is a legal contract between two entities, whether individuals or companies, aimed at achieving a common goal. This video tutorial by e-Forms, the largest database of fillable legal forms, explains key concepts such as the definition of a joint venture, its distinctions from a partnership, common applications for joint ventures, and how to create an effective agreement. Joint ventures are typically formed when the involved parties lack the individual capacity or resources to accomplish a task independently, allowing them to collaborate on projects like real estate development, capital investments, or construction. Viewers are encouraged to click a link at the end of the video to begin crafting a tailored joint venture agreement.