More and more companies all around the world are relying on partnerships so we collected 10 successful joint ventures examples (international and domestic) to see how these things actually work and how they can turn out as a benefit for both or more than two companies.
We have a joke that some companies have a name, middle name, and two last names because of those partnerships. And each day new companies decide to join their strength in order to make a bigger profit and sometimes even influence our lives in a better direction.
Still, the initial reason that makes everyone move towards the joint venture was, is, and always will be the profit.
Before we proceed to Insider Monkey’s official list of 10 successful joint ventures examples (international and domestic), let’s see basic terms, shall we? According to the Balance, joint ventures are corporative enterprises entered into by two or more business entities for the purpose of a specific project or another business activity. Again, to say it simpler, it is a partnership between two or more companies with a goal of condemned benefit.
The thing that most usually happens with joint ventures is joining strengths in order to create something new, unique, and better than anything before. For example, in 2011 Toyota and Ford joined their forces in order to create hybrid trucks. As you could already assume from the headline is the difference between international and domestic joint ventures, but let’s clear it up, just in case. International joint ventures are partnerships between companies that are headquartered in different countries, like Ford and Toyota. When companies are based in the same countries, we call it the domestic joint ventures.
You shouldn’t ever mix up joint ventures and acquisition. Joint ventures are working together and splitting the checks but still remaining individual companies. Actually, it is either complete mix up of workers and jobs or just working on the same project. On the other hand, we have acquisition. Acquisitions are buying off everything related to one company by other company. It is like Facebook did to Whatsapp, Oculus VR, ConnectU, FriendFeed, Hot Potato, Drop.io, Beluga, Instagram, tbh and many more big companies with the lots of prosperity. All of the merged companies are either shut down after they were bought or they are still on, they kept their name, but the brain of the operation is still Facebook.
Now, when we got everything clear, let’s see those 10 successful joint ventures examples (international and domestic).