In a(n) , two or more firms create a legally independent company to share some of their resources to create a competitive advantage. Group of answer choices equity strategic alliance nonequity strategic alliance joint venture equality-based strategic alliance

joint venture

Explanation:

Joint venture is an association of two or more entities that exercise joint control over an undertaking for profit generally set up for a limited purpose, a limited time, or both.

Joint venture may be established by agreement or contract alone as a corporation, as a partnership and as an undivided interest entity.

Joint venture

Explanation:

In a joint venture, two or more firms create a legally independent company to share some of their resources to create a competitive advantage.

A joint venture is like a partnership with a specific goal to function. It is popularly known as a stragetic alliance.

Joint ventures, practically a type of patnership whereby two or more companies form a new company. This new company is a legally independent company. The companies that have come together invest equity and their resources . These new alliance can be formed for a certain short term period, like for a certain project or for a long-term business relationship, while control, revenues and risks are shared according to their capital contribution.