Joint venture
When two or more firms agree to work together and create a jointly owned but separate firm to promote their mutual interests
International franchising commonly involves “Master Franchising” and joint-ventures In a joint venture, two or more "parent" companies agree to share capital, technology, human resources, risks and rewards in a formation of a new entity under shared control.

Cross border Joint venture failure:
Factors of joint venture failure (write only 4 factors)

Strategic Vision: The partners must have strategic visions which can support for joint ventures
Lack ness in Top Management commitment
One of the partners is not participating actively i.e. the one partner who takes primary responsibility is not working
Wrong negotiations
Failure of Delegated arrangement – One of the partners fails in delegation of management to the joint venture’s executives
Lack of organizational support
Lack of capabilities of the local partner
Lack of support by Staff of local partner
Cultural differences

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