A partnership is similar to a joint venture in that the partners may contribute money or expertise to help reach a certain goal. Partners may be active in contributing to the business, while others may be silent, providing financing and other support.
There are differences between a joint venture and a partnership. In a partnership, the partners are joining together to create a new business. A partnership is usually a more lasting business entity to establish an overall business. A joint venture may not be a new business, and it is limited to a certain task.