If Procter & Gamble and Reckitt & Colman,makers of Lysol,form a partnership to develop and distribute a disinfectant line of laundry detergent,the partnership would be a(n)
A) corporation.
B) joint venture.
C) monopoly.
D) licensing agreement.
E) international alliance.

Question

Quizplus · Accepted Answer

A joint venture is a business arrangement where two or more companies come together to form a separate entity to pursue a specific project or business opportunity. In this case, Procter & Gamble and Reckitt & Colman are creating a partnership to develop and distribute a new line of disinfectant laundry detergent. This arrangement fits the definition of a joint venture.