joint-venture

Vocabulary Word

Definition

A 'joint-venture' is when two or more parties, typically businesses, partner up to achieve a specific goal. They'd share the responsibilities, risks, costs, and benefits.

Examples in Different Contexts

In Startup Collaboration, 'joint venture' is used when startups collaborate with established firms to combine innovative ideas with industry experience and financial resources. A startup founder might mention, 'Through this joint venture, we gain the capital and expertise needed to scale our solution rapidly.'

Practice Scenarios

Tech

Scenario:

Our technology could become more advanced quicker by pooling resources. What's your stance on partnerships in innovation?

Response:

I believe in collaborative advancements. A joint-venture can bring unique perspectives and accelerate innovation.

Business

Scenario:

We're exploring new markets and local partnerships could be beneficial. How do you view international collaborations?

Response:

Collaborations are indeed insightful. A joint-venture with a local company would assist us in understanding the market better.