A joint venture is a business arrangement in which two or more parties agree to collaborate on a specific project or business activity, sharing resources, risks, and profits. Each participant in a joint venture contributes assets, expertise, or capital and retains a degree of control over the operation, although the extent of control can vary based on the agreement. Joint ventures are typically established for a limited duration and are often used to enter new markets, share research and development costs, or combine complementary skills. They can take various legal forms, such as partnerships or corporations, and are regulated by the terms outlined in a joint venture agreement. This collaboration allows organizations to pursue opportunities that might be difficult to undertake individually.
Ganfeng Lithium, the global leader in lithium metal supply, is making plans to establish a joint venture in Turkey, aiming to contribute to the development of the local battery industry.…