A form of joint venture in which the joint venture itself is nothing more than the formal documents used to create it. A pass-through joint venture owns no assets other than its interest in those contracts it may have with its clients, nor does it perform any services. Instead, the joint venture subcontracts o each of its members or to third parties all services that it is required to provide to the client. The joint venture retains no profits. The profits, together with any losses, are passed on to the joint venture members through their respective subcontracts with the joint venture.