Joint Enterprise Legal Meaning and Definition

Here is a simplified definition of the legal term Joint Enterprise.

Joint Enterprise (noun)

A joint enterprise refers to a shared activity, project, or business venture participated in by two or more individuals or entities. In a joint enterprise, all parties involved are collectively held accountable for any damage, breach of contract or legal issues that may arise. This arrangement can be created for a particular purpose, for profit, or not for profit. It commonly occurs in partnerships and other business collaborations.