This effort is referred to as a joint venture between the two companies.
A joint venture is a collaboration involving two or more individuals with the goal of growing one company or project for income while dividing the risks involved. Participants in the joint venture shall be at least two distinct natural persons or entities. The parties may contribute funds, manpower, assets, talent, expertise or other resources to a single company or project. It will depend on the particular facts of each instance whether or not a joint venture can be established. International market entry typically involves the use of joint ventures. Joint ventures are formed by foreign businesses and domestic firms that are already present in the markets they seek to enter.
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