Joint Venture

The cooperation of two or more persons or businesses, each approving to part profit, loss and control in a precise enterprise. This is a way for corporations to companion without having to combine. JVs usually are taxed as a partnership.

Hotel industry example: In October 2019, MGM Resorts International proclaimed it has settled to sell the Bellagio to Blackstone for $4.25 billion in a 95%/5% joint-venture sale-and-leaseback contract for an initial annual rent of $245 million.