How to make joint ventures work for partners in the deal

Joint ventures between companies, consortia or strategic alliances as some call them, have been the preferred way for many companies to leverage and enter into markets, transfer technology, procure supplies, obtain finance, share management skills, manufacture products around the world, or share risk on an international scale. Sometimes, the partners in a joint venture are competitors in other fields.

Many joint ventures involve the incorporation of a joint venture company owned by two or more partners in the joint venture. Top management of such joint venture companies are drawn from among the senior management of the partners.