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Joint venture

A business owned jointly by two or more companies.

A joint venture is an enterprise two or more companies own together, often 50-50, to enter a market or share a capability neither wants to build alone.

Joint ventures complicate ownership because neither parent controls the venture outright, so neither can honestly claim the brands. Häagen-Dazs outside North America is operated by the Froneri joint venture, while General Mills owns the brand in the United States and Canada, which makes "who owns Häagen-Dazs" a question with two correct answers.

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