Meaning of Joint Venture- When two or more firms join together to establish a new enterprise then it is known as Joint Venture.
For instance, Maruti Suzuki India Ltd., 
            Uninor Vistara Airlines.

Features Of Joint Venture-

 • When two companies join together it results in reducing the competition.
 • High risk can be reduced when two companies join together to share the risk.
 • By joining hands with foreign company Indian companies can get the benefits of advanced technology.
 • In joint venture two companies together contribute capital.
 • Joint venture reduce cost of production and marketing by operating on a large scale.