International joint venture

An international joint venture is when two or more companies from different countries decide to work together on a project or business. It's like when you and your friend decide to work on a project for school together, but instead of just being in the same class, your friend might live in a different country! This can be good for both companies because they can share expertise and resources they might not have had on their own. For example, if one company is really good at making clothes but doesn't have stores in other countries, they might work with another company that has stores all over the world. This way, the company that makes the clothes can sell their products in other countries without having to do all of the work of opening their own stores. It's kind of like when you work with your friend on a project and they are really good at drawing, so they do the pictures and you do the writing.