Joint ventures (JP) means business agreement where the parties agree to formulate, for a limited time, a fresh entity and fresh assets by surrounding equity. They exercise control on the enterprise and as a result share revenues, charges and assets. You can find other types of companies including JV limited simply by guarantee, joint ventures limited by guarantee with spouses holding shares. Throughout joint ventures, each one of the participants is accountable for profits, losses and costs linked to it. However, the venture is its own entity, separate and aside from the participant’s other business interests.