In regards to WeWi:
The definition of Joint Venture:
A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a joint venture (JV), each of the participants is responsible for profits, losses and costs associated with it. However, the venture is its own entity, separate from the participants' other business interests.
Furthermore:
A common use of JVs is to partner up with a local business to enter a foreign market. A company that wants to expand its distribution network to new countries can usefully enter into a JV agreement to supply products to a local business, thus benefiting from an already existing distribution network. Some countries also have restrictions on foreigners entering their market, making a JV with a local entity almost the only way into the country.
source (2nd paragraph)
https://www.utopya.co/utopyaupdates/wewi-acquisition-status
The definition of Joint Venture:
A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a joint venture (JV), each of the participants is responsible for profits, losses and costs associated with it. However, the venture is its own entity, separate from the participants' other business interests.
Quote:Andiamo Corp. (OTC.PK: ANDI), along with Utopya Innovations, remain in talks with the WeWi team as it is believed that a possible joint venture could be structured between the two companies in the near future.
Furthermore:
A common use of JVs is to partner up with a local business to enter a foreign market. A company that wants to expand its distribution network to new countries can usefully enter into a JV agreement to supply products to a local business, thus benefiting from an already existing distribution network. Some countries also have restrictions on foreigners entering their market, making a JV with a local entity almost the only way into the country.
source (2nd paragraph)
https://www.utopya.co/utopyaupdates/wewi-acquisition-status
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