Which arrangement is used by a partnership for a single business objective?

A joint venture is the correct arrangement for a partnership focused on a single business objective, as it involves two or more parties coming together to undertake a specific project or goal while remaining separate businesses. This type of collaboration allows the partners to pool resources, share risks, and leverage their respective strengths to achieve outcomes that might be difficult for either party to achieve independently.

In a joint venture, the partners typically enter into a contractual agreement that outlines their contributions, responsibilities, profit sharing, and the duration of the partnership. This is particularly advantageous for businesses looking to innovate, enter new markets, or undertake significant projects without forming a new independent entity.

While limited partnerships and general partnerships also involve partnerships, they tend to be ongoing arrangements focused more on operating a business rather than achieving a single objective. A cooperation agreement may facilitate collaboration but does not formally create a partnership like a joint venture does. Thus, the joint venture stands out as the most fitting arrangement for a specific, single business objective.