What Is a Joint Venture? - Definition & Examples


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Which of the following is the best explanation of a joint venture?

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1. Which one of the following is the legal instrument that outlines the scope of a joint venture as well as the responsibilities and duties of its members?

2. Members of a joint ventures are fiduciaries. What must fiduciaries do that is special?

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About This Quiz & Worksheet

This quiz and worksheet will test you on concepts related to joint ventures in business. Some of the terms you'll be quizzed on include joint venture, fiduciary and joint venture agreement.

Quiz & Worksheet Goals

Use these assessment tools to test your knowledge of the following:

  • Members in a joint venture
  • Characteristics of a joint venture agreement
  • Regulatory issues concerning joint venture agreements

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related joint venture lesson
  • Making connections - use understanding of the concept of joint ventures in different contexts
  • Defining key concepts - ensure that you can accurately define main phrases from the lesson, such as joint venture, and fiduciary
  • Knowledge application - use your knowledge to answer questions about joint ventures

Additional Learning

For more information on joint ventures, review the accompanying lesson, 'What is a Joint Venture? Definition & Examples.' The lesson covers the following objectives:

  • Define joint venture
  • Understand the terms of a joint venture agreement
  • Define fiduciary and fiduciary duties
  • Learn about regulatory concerns of joint ventures
  • Identify examples of joint ventures