A joint venture agreement template is a contract where two companies develop a new entity for their mutual benefit. In the world of business, whenever two people and parties agree to start business as partners, they sign a joint venture agreement. Typically, the joint venture agreement template is likely to be described as a partnership agreement. This is because it always serves as a lawful document that not only protects the rights of both parties but also assists them to work together and share profit or loss collectively without any prohibition. As far as the true meaning of a joint venture is concerned, it is a specific business arrangement where two or more parties mutually work together to pool and accumulate their overall resources for the purpose of accomplishing a particular task in a specific period of time. Whereas, a partnership is also a business arrangement, where two or more people do business to earn profit by investing their capital. They do not come together to collaborate, but their purpose is to start a business. Importance of Joint Venture Agreement: The joint venture agreement template has legal worth as it is used to prepare a professional agreement. Basically, it bounds two