Advantages• Knowledge transfer between partners• Enables partners to achieve goals that are difficult to achieve independently• Offers faster and more successful entry into a new location thanks to partners' knowledge• Brings together different skills and resources, which means that joint ventures are stronger than they were when they were independent • Allows partners to share costs and risks, so there is no pressure on a specific partner (D, Johnson, 2009) Disadvantages • The objectives of each partners can be different. Objectives must therefore be clearly stated at the start of negotiations. • Differences in culture and business style may cause friction and poor communication • Knowledge transfer between partners may not be as simple as thought • May not be able to implement the partner company's culture and operations objectives• When you move to a foreign market you may be exposed to commercial, cultural or currency factors