Joint ventures can be an effective way to grow business while controlling risk; however, they should not be entered into without considerable thought.
Many of us likely remember the Saturday morning cartoon series “Justice League.” In it, superheroes such as Superman, Batman, and Wonder Woman would come together to address a common purpose or foe. This roster of superheroes would work in cooperation to address challenges that none by themselves could overcome. Working together as a team, they were able to leverage each other's unique skills, experiences, and knowledge. In essence, the Justice League was a joint venture.
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