Partnership vs. Joint Venture: Choosing the Best Structure for Your Business Collaboration

When two companies decide to collaborate, choosing the right structure—partnership or joint venture—is crucial to the success of the project. Whether you're working on a short-term goal or a long-term collaboration, the structure you choose will affect how the business is managed, how profits and liabilities are shared, and what happens once the project ends. This article breaks down the differences between partnerships and joint ventures, what legal filings are necessary, and the tax implications for each. Learn why consulting with an attorney can help you navigate the complexities of business collaboration and set your venture up for success.