Competition | European Encyclopedia of Law

Joint venture

Joint venture

Joint venture in the European Union Law

Concept of Joint venture provided by the “Glossary of terms used in EU competition policy” (Antitrust and control of concentrations, published in 2002): Association of firms or individuals formed to undertake a specific business project. Under the Community competition rules, joint ventures are undertakings that are jointly controlled by two or more other undertakings. In practice joint ventures encompass a broad range of operations, from merger-like operations to cooperation for particular functions such as R & D, production or distribution. Full-function joint ventures, which act on the market independently from their mother companies, are treated as concentrations under the merger regulation.

(See: Article 3(2) of the merger regulation.)


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