Joint venture is defined as an agreement joining together two or more parties for the purpose of executing a particular business undertaking. All parties agree to share in the profits and losses of the enterprise. An online joint venture pairs two or more parties together to specifically do business online.
Okay – in plain English, an online joint venture happens when you join forces with another online business to make some money. There are no tricks to joint ventures other than finding a good partner, and joint ventures can and do take a variety of forms.
For example, a simple joint venture, which is also quite common, is for two information marketing businesses to bundle their products together and promote them to their combined email lists. The benefit to this type of arrangement is potentially huge. Each business increases their exposure and customer base, each business makes money, and each business gives their customer and email list an opportunity to get benefit from a new product.