The following are the basic types of Joint venture partnerships:

• Complementary technology joint ventures- the partners combine their technologies to diversify their existing product or market portfolios

• Market technology joint ventures – combination of the market knowledge of one partner with the production or product know-how of the other

• Sales joint venture- the producer and a local partner cooperate in an arrangement which is a mixture of independent representation and own branch

• Concentration joint ventures- competing partners cooperate to form larger and more economical units

• Research and development joint ventures – where the aim is to create synergy by making joint use of research facilities, exploiting opportunities to specialize and standardize, combining know-how and sharing risks

• Supply joint venture where competitors with similar input needs cooperate to safeguard supplies, reduce procurement costs or prevent the entry of new competitors.

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