Collaboration between firms is not a new concept, but the new thing that can be seen is that the collaborations have increased significantly during the past couple of decades, along with the increasing international competition. Moreover, the nature of collaboration has changed, shifting from peripheral interests to the very core functions of the corporation, and from equity to non-equity forms of collaboration. This paper essentially focuses on the legal framework governing the various aspects of a Joint Venture in India in brief, the methods of Joint Ventures, as well as RBI regulations on the topic. The research methodology adopted is largely analytical and descriptive. Reliance has been placed largely on various sources like articles and online articles
