Description
The legal agreement between companies which get together to create a temporary legal entity where they can share knowledge, technology, and other assets aiming at developing new products or services appealing to the market. Also, to share the expenses and revenues of the venture.
Alternative labels
companies with shared ownership
joint venture
Skill type
knowledge
Skill reusability level
cross-sector
Relationships with occupations
Essential knowledge
Joint ventures is an essential knowledge of the following occupations:
Optional knowledge
Joint ventures is optional for these occupations. This means knowing this knowledge may be an asset for career advancement if you are in one of these occupations.
Financial auditor: Financial auditors collect and examine financial data for clients, organisations and companies. They ensure the financial data is properly maintained and free of material misstatements due to error or fraud, that it adds up, and functions legally and effectively. They review lending and credit policies or numbers in databases and documents, evaluate, consult and assist the source of the transaction if necessary. They use their review of the client’s financial governance as assurance to give testimony to the shareholders, stakeholders and board of directors of the organisation or company that all is up to par.
Chief executive officer: Chief executive officers hold the highest ranking in a pyramidal corporate structure. They are able to hold a complete idea of the functioning of the business, its departments, risks, and stakeholders. They analyse different kinds of information and create links among them for decision-making purposes. They serve as a communication link with the board of directors for reporting and implementation of the overall strategy.
Lawyer: Lawyers provide legal advice to clients and act on their behalf in legal proceedings and in compliance with the law. They research for, interpret and study cases to represent their clients in a variety of settings such as courts and administrative boards. They create arguments on behalf of their clients for lawsuits in different contexts with the aim of finding a legal remedy.
Corporate lawyer: Corporate lawyers provide legal consulting services and representation to corporations and organisations. They give advice on matters relating to taxes, legal rights and patents, international trade, trademarks, and legal financial issues arising from operating a business.
References
- Joint ventures – ESCO
