A joint venture with a less formal, less encompassing agreement is called a:
A) strategic alliance.
B) partnership.
C) corporation.
D) limited liability company.

Question

A joint venture with a less formal, less encompassing agreement is called a:
A) ​strategic alliance.
B) ​partnership.
C) ​corporation.
D) ​limited liability company.

Quizplus · Accepted Answer

A strategic alliance is a less formal and less encompassing agreement between two or more entities to work together on a specific project or objective. It is typically formed for a limited time period and does not involve the creation of a new legal entity. A partnership, corporation, and limited liability company are all formal business structures with specific legal requirements and implications.

A Joint Venture with a Less Formal, Less Encompassing Agreement