Joint ventures: Does termination mean failure?

Abstract

Joint venture operations are usually called off because either or both partners have not received the benefits expected from the venture or because partners have received expected benefits and conditions have so evolved since the initiation of the venture that it no longer serves its purpose. While the former would qualify as a failure, the latter could be win-win pointers to success, with partnering parents achieving their goals.

Three recent joint venture restructuring exercises have been discussed to ascertain the circumstances attendant upon the breakups.