Joint venture and partnership are two different forms of enterprises, and there are some differences in legal status, liability forms and investors' rights.
A joint venture refers to an enterprise in which two or more companies, enterprises or other economic organizations jointly invest, operate and share profits and losses. The investors of a joint venture shall enjoy the rights and interests and bear the responsibilities in proportion to their capital contribution. The organizational form of a joint venture may be a limited liability company or a joint stock limited company.
A partnership enterprise is an enterprise in which two or more natural persons or legal persons jointly contribute capital, jointly operate and make profits and losses. The investors of a partnership enterprise shall enjoy the rights and interests and bear the responsibilities according to the proportion agreed in the partnership agreement. Partnership can be organized in the form of general partnership or limited partnership.
In a word, there are differences between joint ventures and partnerships in terms of legal status, forms of liability and investors' rights. Investors should choose the appropriate enterprise form according to their own situation and needs.
Legal basis:
The Company Law of People's Republic of China (PRC) stipulates: "The company mentioned in this law refers to a limited liability company and a joint stock limited company established in China according to this law."
The Partnership Law of People's Republic of China (PRC) stipulates: "The partnership mentioned in this law refers to the general partnership and limited partnership established by natural persons, legal persons and other organizations within the territory of China according to this law."