Joint Venture (JV) is a strategy for entering foreign markets in which a company collaborates with foreign companies to produce or market products or services. Unlike exporting, in a JV the company enters into a partnership and enters into production or other activities in the foreign market.
The main forms of JV include licensing, contract manufacturing, and joint ownership. The advantages are risk sharing and access to local expertise, but the disadvantages include potential loss of control or conflicts with the partner.
