Cooperation would be something social, altruistic, good, constructive, efficient; competition would be something individual, selfish, bad, destructive, inefficient.
According to the Royal Spanish Academy, to cooperate is "to work together with another or others to achieve a common goal", while to compete means "to contend with each other, aspiring to one and the same thing with commitment".
Some advantages of joint ventures that can be pointed out are the following: Sharing human, technological or material resources and many others, thus reducing costs in the long run. Overcome commercial and physical barriers, building new market niches to achieve a greater share.