Cambridge O Level Business Studies · Syllabus 7115 · Understanding Business Activity
Joint Venture
What is Joint Venture?
An arrangement in which two or more businesses agree to work together on a specific project or venture, sharing the cost, the risk, the knowledge and the resulting returns, while each continues to exist as a separate business. It is often used to enter an unfamiliar market or to fund a project too large for one firm alone.
This definition is part of the Understanding Business Activity chapter in Cambridge O Level Business Studies.
Last reviewed Syllabus 2026