Abstract
A joint-venture is an agreement between two partners from different countries and which consists of the creation or the joint acquisition of a joint venture on the market of the foreign partner. This co-operation is considered on the long-term. In other words, a joint venture is a group in which at least two people or two companies join forces according to various methods with the aim of carrying out a particular joint project. By gathering, the two or more companies share their knowledge and competences (technical, commercial, managerial), their technologies and their resources (financial means and human) for thus achieving goals which they could not reach if they were alone; and divide management, control, the risks and the profits associated with this common structure. The joint ventures often have a limited life span. If the alliance has problems, it can happen that shareholders want to leave the joint undertaking and that can cause tensions and conflicts. Therefore it is important to envisage the status of the joint venture and some procedures of exit for each party.
