The practical difference is the reach of liability. In a consortium each party is responsible only for the part of the work it has taken on, and each undertakes its own portion separately. In a joint venture the partners are responsible for the whole of the work together, and in most cases jointly and severally.
That distinction matters most in public tenders. The Public Procurement Law (No. 4734) treats joint ventures and consortia as separate things, with different consequences for security, for liability and for how qualification is assessed. Tax and accounting handle the two models differently as well. Both are usually built on an ordinary partnership within the meaning of the Turkish Code of Obligations (No. 6098). We choose the model with you, against the nature of the project, the way risk is shared and what the tender specification actually requires.
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