As the business landscape changes, firms are snapping up opportunities in technology and new markets with strategic alliances and collaboration. Companies are using partnerships, networks, open innovation, “ecosystems,” outsourcing, licensing agreements, and other structures, constantly creating new combinations. One author calls it “the business remix.” Joint ventures (JVs) are one option on the menu. But they are a complex way of doing business. To succeed in a JV, companies need to negotiate effectively, ensure the partnership creates value, engage JV talent, and get the governance right.