What are the advantages of joint ventures over other business structures?

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What are the elements of a valid joint venture agreement?
Are there any restrictions on how profits from a joint venture are distributed?
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Do joint ventures need to be registered with the government?
What are the potential tax implications of terminating a joint venture?
Are there any restrictions on the types of personnel a joint venture can employ?
What type of business entities can enter into a joint venture?
Are joint ventures subject to licensing?
What are the differences between a joint venture and a sole proprietorship?
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