Joint venture partners often differ and tend to be specified based on the capabilities of each partner and the nature of the venture although legal agreements are required to create and sustain international joint ventures in order to prosper ijvs must be practical living and evolving relationships. International joint ventures a practical guide was originally published in 1992 by west publishing co the original hard cover edition can be found in 75 law libraries worldwide. Practical and based on his decades of experience as an intercultural trainer throughout the worldsaudi aramco and petronas have formed two joint ventures to further the two national oil companies equal ownership and participation in operations of the refinery and petrochemical integrated . An international joint venture international joint ventures are viewed as a practical vehicle for knowledge transfer such as technology transfer from multinational expertise to local companies and such knowledge transfer can contribute to the performance improvement of local companies
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