How do joint ventures differ from private corporations?

A) The joint venturers must share the risks and profits of the joint venture equally.
B) There can only be two parties in a joint venture.
C) A joint venture does not have a board of directors.
D) Venturers cannot make unilateral decisions.

Joint Ventures

A commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities.

Private Corporations

Businesses owned by private individuals or entities, characterized by not having shares publicly traded on stock exchanges.

Board of Directors

A group of individuals elected to represent shareholders and govern over the activities and decisions of a corporation or organization.