A business arrangement in which two or more parties agree to pool their resources for a specific project or business activity.
The two companies established a joint venture to develop a new product.
The joint venture agreement specifies how profits will be distributed.
合弁会社 specifically refers to a joint venture company, while 合弁事業 can refer to the joint venture project or undertaking itself, which may not necessarily be a separate company.
Compound of 合弁 (joint, combined) + 事業 (business, enterprise). 合弁 is itself a compound of 合 (join) and 弁 (manage, handle).