Which one of the following statements best describes international joint ventures?

Multiple Choice

International joint ventures allow firms to gain access to new markets and create mutually beneficial advantages, often for a specific project, without the sharing of profits and risks.

International joint ventures are a special type of partnership between two or more companies in different countries that share many parts of the business, including technology, costs, profits, and risks.

International joint ventures allow a foreign company to produce a company's products and utilize its trademarks for a royalty fee.

International joint ventures allow two domestic companies to combine their efforts to produce products they will export to other countries.