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joint ventures (pros (becomes easier to enter into new markets, able to…
joint ventures
pros
becomes easier to enter into new markets
able to gain new expertise and additional capacities without any investment
remarkably flexible
cons
leadership gaps might form
written agreements are absolutely necessary
requires very clear communication
potential risks
the partners might have different objectives for the joint venture
different cultures and management styles may lead to poor integration and co-operation
objectives of the venture might not be clear and communicated to everyone involved
solutions
clear communication and delivery
discussions for unifying ideas
due diligence
not a legal entity
unlimited liability
separated legal identity
limited continuity