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Question

Any two companies joining hands for mutual benefits is known as an _____________.

A
association
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B
joint venture
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C
merger
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D
alliance
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Solution

The correct option is A joint venture
A joint Venture is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Examples of joint ventures include: Vodafone & Telefónica agreed to share their mobile network. BMW and Toyota co-operate on research into hydrogen fuel cells, vehicle electrification and ultra- lightweight materials. West Coast joint venture between Virgin Rail & Stagecoach.

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