Basically, 2 or more people working on the same project. The all chip in one way or another. The profits are split amongst those people. If you are planning to start a joint venture, make sure its with someone you trust or is a trusted DP member. Otherwise, you'll end up losing money.
I had an offer for a joint venture to learn how to create a website and use content and adsense to create traffic and such but I never heard back and I was interested in learning so I don't really know where to go from here.
I thought it was a bunch of people smoked up and on an adventure. Example: a bunch of rafters going down a river sharing some bud.
Well he said I could teach you and we could do a joint venture so that you can learn and we will split the profits but then I never heard anything else about it. So not sure. I am kind of learning on my own now. For the moment that is.