Heall Aircraft and G&H Airways, two companies based in the country of Islea, came together to develop and sell the JKL356 aircraft engine globally. In this scenario, Heall Aircraft and G&H Airways have formed a _____ to enter the foreign market.
A) joint venture
B) turnkey agreement
C) wholly owned subsidiary
D) franchise

Question

Quizplus · Accepted Answer

A joint venture is when two or more parties come together to undertake a specific business project, sharing both the risks and rewards. In this case, Heall Aircraft and G&H Airways are collaborating to develop and sell an aircraft engine, fitting the definition of a joint venture.

Heall Aircraft and G&H Airways, Two Companies Based in the Country