2.3.2 合资-Joint ventures
合资企业是两方或多方之间形成的法律实体，有时称为”合作协议”。
A joint venture is a legal entity formed between two or more parties, sometimes referred to as a ‘co‑operative agreement’.
如何运作-How it works
The company wishing to export finds a local company that it would like to work with in the target country. Each party involved in the joint venture would bring different skills and expertise to the newly formed entity.
- 设立清晰的责任和目标。（Once the joint venture is formed, responsibilities and goals for each organisation will be clearly defined.）
- 就新成立企业的收入，费用，资产和控制权的份额达成协议。（Agreement will be reached on the share of the revenues, expenses, assets and the control of the newly formed enterprise.）
- 在双方之间分配新公司的股权，共担利润和损失。（Equity in the new company would be split between the parties, and any profits and losses would be shared on the same basis.）
- 税款将在合资企业成立的国家支付。（Taxes would be paid in the country where the joint venture is set up to trade from.）
- 出口公司应得的利润份额将回流其国家。（The share of profits due to the exporting company must be expatriated back to its country.）
优势-Advantages
- 可应对当各国为了保护其国内制造商而实施高关税或配额限制。This approach is attractive when countries impose high tariffs or quota restrictions in order to protect their domestic manufacturers. In some territories, the country’s laws may not permit foreign nationals to operate alone. For example, in some Arab countries it is not legal to carry out business without forming a joint venture with a local partner.
- 在获得特许经营权之前，合资企业更容易迈出第一步。A joint venture can also be an easier first step before moving on to franchising, as McDonald’s and other fast-food companies found out when they first entered the Chinese market.
- 其他优势。Other reasons for forming a joint venture are as follows:
• 通过使用本地合作伙伴，大大降低了进入海外市场的风险。（Entry risks to the overseas market are greatly reduced by using the local partner.）
• 当地合作伙伴将对该国的法律框架和商业文化有更深入的了解。（The local partner will have greater understanding of the legal framework and business culture of that country.）
• 一旦企业成立，劳动力和管理费用可能低于在国内制造并出口到海外国家。（Once the venture is established, labour and overhead costs may be lower than
manufacturing in the domestic country and exporting to the overseas country.）
劣势-Disadvantages
- 一方提供的投资水平和专门知识水平可能不平衡。
There may be an imbalance in the levels of investment and expertise provided by one party. - 双方可能具有潜在的冲突管理风格，商业文化和职业风格。
The parties may have potentially conflicting management styles, business cultures and perational styles. - 相关方可能有不同的战略目标。
There may be different strategic objectives for the involved parties. - 合资公司的设置很复杂，可能需要花费大量的时间和金钱来投资寻找合适的合作伙伴。
They are complex to set up, and a great deal of time and money may be needed to invest in finding the right partner. - 必须对合资企业中合作伙伴的可靠性进行研究。
Research has to be made into the reliability of the partner in the joint venture.
**股权-EQUITY
公司的价值，分为股东拥有的许多相等部分，或公司价值被划分为的相等部分之一。“The value of a company, divided into many equal parts owned by the shareholders, or one of the equal parts into which the value of a company is divided.” (Cambridge Dictionary, 2021)
**合同合资企业-Contractual joint venture
合资企业也可以通过两个现有法人实体之间的协议建立，而无需设立另一个法人实体。
A joint venture can also be established via an agreement between two existing legal entities without the creation of another legal entity.
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