A joint venture creates a common enterprise for the joint venture participants to assist each other with a common goal. Joint ventures can be incorporated or unincorporated. Typically a joint venture concerns an individual project. Each party to the joint venture will usually bring a specific skill set to the venture. This structure is ideal for bringing parties together that have a common interest in achieving a particular goal but where individually they do not have sufficient resources or expertise. Selection of appropriate joint venture partners is key to a successful joint venture. The parties to a joint venture agree between them the parameters of their participation, including for funding and exposure to liability.

See Joint ventures.