A joint venture agreement is a legally binding contract between two or more parties that outlines the terms and conditions of their collaboration on a specific project or business endeavor. It defines the structure, objectives, roles, responsibilities, and financial contributions of each party, as well as provisions for profit sharing, management, and decision-making. This type of agreement helps to establish a clear understanding among the parties involved, facilitates effective communication, and mitigates potential conflicts, fostering a successful joint venture that benefits all participants