Author Description

In global environment, where the world has become boundary less, no economy can keep itself aloof of the affairs happening in the other economies. Rather, need of the hour is to join hands with one another for the fuller development. Hence, the number of joint ventures and strategic alliances has been constantly increasing these days. The joint ventures and strategic alliances are not being only made amongst the companies of the same country but also amongst the enterprises of different nations. Joint venture is a contractual agreement between two or more parties for the attainment of a specific purpose in a stipulated period of time mutually sharing their resources and taking risks.