Joint undertaking. Association of firms or individuals formed to undertake a specific business project. Under the Community competition rules, ”joint ventures” are undertakings that are jointly controlled by two or more other undertakings. In practice, ”joint ventures” encompass a broad range of operations, from merger-like operations to cooperation for particular functions such as R & D, production or distribution. Full function joint ventures, which act on the market independently from their mother companies, are treated as concentrations under the merger regulation.
RO: Societate mixtă
FR: Entreprise commune/Coentreprise/Joint venture
