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Joint and several liability

Liability for damages imposed on two or more individuals or legal entities who are responsible together and individually, allowing the party harmed to seek full remedy against all or any number of the wrongdoers. The availability of joint and several…

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Joint venture

An agreement by two companies, typically one foreign and one domestic to work together for mutual benefit with specific ownership percentages specified in a long-term contract. These two companies set up a third company (the Joint Venture). This new company…

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