As executives close to the deal explained it, the initial stage of the agreement will create a joint venture.

The companies will merge their European cleaning businesses, creating a joint venture with annual revenues of $750 million.

Under the agreement, the three companies plan to create a new joint venture to market global communication services to multinational corporations.

Or, the companies may create a joint venture to get into the long-distance phone business.

It created a joint venture with the county to improve a local road so farmers could get their products to market.

The church recently created a joint venture to sell bottled water.

Last year, the group created a venture through which to invest up to $50 million in high-technology enterprises.

Instead, the two groups seem to have created an informal joint venture.

The companies will also create a joint venture known as Concert to provide services like data transmission, video conferencing and global calling cards.

When you decide to create a joint venture, the terms and conditions should be set out in a written agreement.