What is the difference between a partnership and a joint venture?
A joint venture is not considered a “person” for registration purposes, whereas a partnership is. Therefore, a partnership can have a BN; a joint venture cannot. A joint venture is limited in scope; a partnership is generally an ongoing business relationship that exists between persons carrying on common business.
Related Questions
- Would it be better for the two LLCs to form the partnership, or just have them create a separate partnership when they work on the joint property venture?
- Is it possible to form a sort of temporary joint venture to take part in project partnership?
- Can I share exhibit space with my mentor/protégé, joint venture, or teaming partnership?
