Compare and contrast partnerships and joint ventures?

Answer 1

Partnerships and joint ventures both involve collaboration between two or more parties but differ in structure and purpose. A partnership is a more permanent arrangement where partners share profits, losses, and management responsibilities, typically within a business context. In contrast, a joint venture is a temporary alliance formed for a specific project or goal, where parties contribute resources and share profits, but maintain separate identities and operations. Overall, partnerships are broader in scope and duration, while joint ventures are often project-specific and time-limited.