An is a business that is jointly owned and operated by two or more firms that pool their resources to penetrate host country markets, generate and split profits, and share commercial risk.

International Joint Venture.

Explanation:

An international joint ventures are the partnership formed by two businesses based in two different country to explore international market without taking complete commercial risk as foreign company is not aware about the local condition and preferences. It help the company to expand its own territory and explore new market. Business is formed for only specified project and partners share it´s profit, loss and other asset for smooth process in the business.