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Airbus partners with Voyager Space to build ISS replacement

Airbus and US space exploration firm Voyager Space announced Wednesday a joint venture to develop Starlab, a commercial alternative to replace the International Space Station (ISS) by the end of the decade.

Satellite operator OneWeb switches launches to SpaceX

Global satellite communications company OneWeb said Monday that it will switch launches to Elon Musk's SpaceX, after suspending activities with Russia's Baikonur Cosmodrome in Kazakhstan.

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Joint venture

A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together. The parties agree to create a new entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. The venture can be for one specific project only, or a continuing business relationship such as the Fuji Xerox joint venture. This is in contrast to a strategic alliance, which involves no equity stake by the participants, and is a much less rigid arrangement.

The phrase generally refers to the purpose of the entity and not to a type of entity. Therefore, a joint venture may be a corporation, limited liability company, partnership or other legal structure, depending on a number of considerations such as tax and tort liability.

This text uses material from Wikipedia, licensed under CC BY-SA