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A joint venture agreement is a legal contract between two entities, either individuals or companies, aimed at achieving a shared goal. This video tutorial from e-forms, the largest database of fillable legal forms, explains joint ventures, differentiating them from partnerships. It covers common applications, including real estate developments, capital investments, and construction projects. The purpose of forming a joint venture is that the involved parties often lack the individual capacity or resources to achieve their objectives, but can successfully collaborate to accomplish what they couldn't alone. Viewers are encouraged to click a link at the video's end to create a tailored joint venture agreement.