what is the deference between partnership and joint ventures?

Dear student,

Following are differences between Joint venture and a Partnership Firm.


It is a business formed by two or more than two persons for a limited period and a specific purpose.
It is a business arrangement where two or more persons agree to carry on business and have mutual share in the profits and losses of the firm.
There is no specific act governing Joint Venture It is governed by The Indian Partnership Act 1932.
Profit is ascertained at end of venture Profit/ Losses are ascertained annually.
There is no specific trade name in Joint Venture There is specific trade name in case of partnership.


  • 2
What are you looking for?