A Joint Venture (JV) is a business arrangement where two or more companies jointly invest and collaborate to operate a specific project or entity, aiming for market entry, technology sharing, and risk diversification as a more flexible and efficient strategy than independent expansion. Companies form JVs to gain market access by overcoming regulatory and cultural barriers, share investment risks, acquire complementary technology and know-how, integrate resources such as capital and talent, and accelerate market entry. According to BCG, 60% of companies believe JVs are resilient during economic downturns. Globally, there are over 10,000 JV and alliance deals annually, with approximately 65% being cross-border JVs between 2010 and 2022, particularly in manufacturing, energy, technology, and life sciences sectors. However, JVs have an average lifespan of 3 to 7 years, and about 50% dissolve within five years, though some, like the Safran-GE JV, have lasted over 42 years. Key success factors include clear governance structures, profit-sharing rules, and cultural alignment.