Mergers are one way for two companies to completely join assets and management but many companies enter into corporate deals which fall short of merging. Such deals are called corporate alliances and they take many forms, from straight forward marketing agreements to joint ownership of world scale operations. Joint venture is one method of corporate alliance. In a joint venture parts of companies are joined to achieve specific limited objectives. A joint venture is controlled by management teams consisting of representation of both the two or more parent companies.