How To Create Successful Joint Ventures

Joint ventures were originated as commercial or maritime enterprises used for trading purposes by merchants of ancient Egypt, Babylon, and Syria. In the United States, joint ventures date back to the 1880's when the rairoads used them for large‐scale projects. In the early 1900's joint ventures were implemented to decrease the risk, financial and otherwise, involved in shipping and gold explorations. More recently, joint ventures have become predominant as a result of technological and economic changes that led from deregulation, globalisation, and increased need for product innovation [p.7].