Joint ventures are cooperative arrangementsthat operates for the benefit of the co-owners or parent companies.Select one:TrueFalse

The statement is True.

A joint venture is indeed a cooperative arrangement where two or more parties (companies or organizations) come together to pursue a specific project or business activity for mutual benefit. In this structure, each participant contributes resources such as capital, expertise, or technology, and shares in the risks and rewards proportional to their investment or agreement. Joint ventures often allow companies to leverage each other's strengths and enter new markets or sectors that may be difficult to access independently. Furthermore, the collaborative nature of joint ventures can lead to innovation and a stronger competitive position in the marketplace. Overall, these arrangements are designed to be advantageous for all parties involved, fulfilling the criteria stated in the question.