Benefits• Knowledge transfer between partners• Enable partners to achieve goals that are difficult to achieve independently• Provide faster and more successful entry into a new location through partner knowledge• Brings together different skills and resources, meaning joint ventures are stronger than they were when they were independent • Allows partners to share costs and risks so there is no pressure on any specific partner ( D, Johnson, 2009)Disadvantages• The objectives of each partner may be different. The objectives must therefore be clearly stated from the start of the negotiations. • A difference in culture and business style could lead to friction and miscommunication. • Knowledge transfer between partners may not be as simple as previously thought. partner company cultures and operations• When entering a foreign market, you may be exposed to commercial, cultural or monetary factors.