In a(n) ________, two or more firms work together to create a new business entity that is legally separate and distinct from either parent company
A) operational partnership
B) strategic alliance
C) joint venture
D) operational alliance
E) international franchise
Answer: C
Explanation: A joint venture is an arrangement in which two or more firms join together to create a new business entity that is legally separate and distinct from its parents. It is an alternative to a strategic alliance.
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