1. A business agreement in which parties agree to develop a new entity and new assets by contributing equity, exercising joint control over the

1.  A business agreement in which parties agree to develop a new entity and new assets by contributing equity, exercising joint control over the enterprise and consequently share revenues, expenses and assets is called:

a.  Multi-national business

b.  Joint Venture (JV)

c.   Franchise

d.  Foreign Direct Investment (FDI)