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Is a joint venture a juridical entity?

If a joint venture is a juridical entity, is it separate and distinct from its owners?

Public Comments

1. I'd say it depends on the contractual agreement. Joint is similar to 2 partners in a company.. Some partnerships have a general partner and a limited partner kjust as a joint venture can have 2 general "partners" or one general and one limited. The limited "partner" is limited to the money he/she invested in the joint venture.

Read the contract between the two companies..

2. A joint venture is usually either a partnership or a corporation. If there is a joint venture agreement read it to see what was initially considered. If unincorporated then they are usually treated as partnerships. Note I say "usually"; there can be exceptions.