Joint venture construction is a business arrangement between two or more entities in which they join forces to create a new, separate business entity. This is different from a partnership in that the newly formed company will take on its own assets and liabilities. The parties involved in the joint venture each bring their own expertise, resources, and financial commitment to the table, allowing them to combine their strengths and collectively complete projects more efficiently and effectively. It’s an attractive option for companies looking to enter new markets and explore new ideas, as well as those seeking to benefit from the pooled resources of multiple entities.