Answer:a joint venture
Explanation:Joint Venture can be described as a business arrangement, wherein two or more independent firms come together to form a legally independent undertaking, for a stipulated period, to fulfil a specific purpose such as accomplishing a task, activity or project. In other words, it is a temporary partnership, established for a definite purpose, which may or may not uses a specific firm name.
Objectives of Joint Venture:
To enter foreign market and even new or emerging market.
To reduce the risk factor for heavy investment.
To make optimum utilisation of resources.
To gain economies of scale.
To achieve synergy.
