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Difference between joint venture and partnership
|
JOINT VENTURE |
PARTNERSHIP _w |
|
Temporary in naturę |
C-_N tfśiuous in naturę |
|
Not Operated on firm name |
Operated on firm name |
|
Restricted with a particular job |
No such restrictions. |
|
Co-venturers |
partners |
|
Liability is based on agreement |
Joint and several liability |
|
Profit is ascertained for each venture |
Profit is ascertained annually |
|
Venture is dissolved when the work is completed |
Partnership not so. |
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