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A joint venture is regarded as a temporary partnership because it is formed by two or more parties who agree to carry out a specific business project or undertaking for a limited period of time, after which the arrangement comes to an end. It is created to achieve a particular objective, such as executing a construction contract, exploring minerals, or organizing an event, and once the work is completed and the profits or losses are shared, the joint venture ceases to exist. The relationship among the co-venturers is similar to that of partners as _________ ______ ______ _________ _______ _______ __________.
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