A joint venture can be defined as:

A. Two firms collaborate together on a specific project

B. One firm licenses its intellectual property to another firm

C. Two firms merge together

D. Two firms come together to form a third, legally separate firm

Answer: Option D

Solution(By Examveda Team)

A joint venture can be defined as Two firms come together to form a third, legally separate firm. A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task.