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Three companies have joined together to create a new legal entity to explore a new opportunity outside of their core businesses. What is the name given to this type of arrangement?
Suggested Answer: A
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A joint venture is specifically defined by forming a new legal entity owned by the participants for a defined purpose.
2 comments · newest first
EL
Ellsworth
2 days ago
I remember discussing partnerships in class, but I don't think that's the right term for this situation.
TA
Tamie
7 days ago
I think this might be a joint venture, but I'm not entirely sure. It sounds familiar from our case studies.