Joint ventures are established using a multitude of structures and legal forms.
Exhibit 1 shows new joint venture formation activity worldwide between 1990 and 2010. The formation of joint ventures peaked in 1995 but has since declined. Two factors contributed to this decline: the reduction in regulations prohibiting foreign ownership in developing and developed countries, and the economic global downturn of recent years. Nonetheless, joint ventures are still viewed and used as integral tools for expansion and collaboration—for example, Burger King recently announced that it will use a joint venture in order to expand from 63 restaurants in China to more than 1,000