The main differences between joint venture and consignment
The main differences between joint venture and consignment are: 1. Nature Joint venture : It is a temporary partnership business without a firm name. Consignment : It is an extension of business by principal through agent. 2. Parties Joint venture : The parties involving in joint venture are known as co-ventures. Consignment : Consignor and consignee are involving parties in the consignment. 3. Relation Joint venture : The relation between co- ventures is just like the partners in partnership firm. Consignment : The relation between the consignor and consignee is 'principal and agent'. 4. Sharing Profit Joint venture : The profits ans losses of joint venture are shared among the co-ventures in their agreed proportion. Consignment : The profits and losses are not shared between the consignor and consignee. Consignee gets only the commission. 5. Rights Joint venture : The co-ventures in a joint venture have equal rights. Consig