Has your company spotted a gap in the market for a new product or service but hasn't got the resources to exploit it?
One option to consider is collaborating with another organisation through a joint venture. A joint venture might sound daunting - but essentially it's an arrangement between two or more parties to work together to achieve a common goal – usually increased profits. Both parties can combine their expertise, skills and resources and potentially achieve more than either could have done on its own. At the same time, risks can be shared or even reduced.
Joint ventures are found in most industry sectors and there are a variety of ways to structure them. If you are thinking about a joint venture, here are our top ten tips: