What defines an ongoing financial interest in a joint venture?

An ongoing financial interest in a joint venture is primarily defined by the ability to influence project outcomes. This influence indicates that a party is not just a passive investor but has a role in the decision-making process of the joint venture. This can include aspects such as voting rights, representation on the board, or participating in strategic planning. The ability to influence the direction of the project is key in determining one's financial interest, as it signifies a stake that goes beyond mere financial investment.

Ownership of all assets would imply complete control over the venture, which is not typically the case in a joint venture where multiple parties share ownership and responsibilities. Exclusive decision-making power suggests that one party has unilateral control, which contradicts the collaborative nature of joint ventures where decisions are usually made jointly. Irrevocable commitments to fund projects indicate a financial obligation, but they do not directly speak to the continuous influence or personal stake in the operation and success of the venture. The essence of having an ongoing financial interest lies in the shared governance and collaborative decision-making that drives the joint venture's success.