Following are the differences between Partnership and Joint Venture except:
Joint Venture is essentially planned for short terms mainly for one contract/ deal. However, partnership are normally undertaken as going concerns and are expected to last for a very long period.
The persons involved in a joint venture are called co-ventures whereas persons involved in a partnership are called partners
Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnership
Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-ventures whereas the basic relationship between the partners is defined by the partnership deed