Which of the following is not a characteristic of joint venture ?
One of the partners acquires complete stock of the other
A joint venture is an arrangement in which two or more independent partners pool resources to form a jointly owned entity. Its characteristics include an equity position held by each partner, joint participation (intent to share) in management and control, sharing of risks and profits, and formation between legally incorporated entities.
If one partner acquires the complete stock of the other, the other partner ceases to exist as an independent owner. This is an acquisition (takeover), not a joint venture, because joint ownership and shared control disappear.
Hence, the answer is One of the partners acquires complete stock of the other.
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