What's a JV deal? (maybe more complex question than it sounds)

In relation to a direct mail copywriting job:

How would you define a JV deal?

Would you conventionally refer to work for hire, with the copywriter being paid royalties, a JV deal?

I’m particularly interested in how direct mail copywriters and their clients might conventionally see this.

I guess JV can be defined in lots of ways, and could be applied in a situation in which the copywriter is being paid royalties. But this question is: Would it conventionally be referred to as ‘JV’, or ‘work for royalties’, or something else?

To expound a little:

If a freelance copywriter writes a mailing for a company, and the directors of the company have the final say in things, including whether to actually send the mailing out, and can make that decision without consulting the copywriter, and can change strategies to a strategy that involves not using the mailing not because of any problem with the mailing, but just because they change strategy, perhaps following a reassessment of the market, but are not obliged to say why a particular decision has been made…

…in other words, if the arrangement is exactly the same as a work for hire arrangement for a set fee, except instead of a set fee, the arrangement is to pay is royalties – would that conventionally be referred to as a JV arrangement?

Or would the term JV really only be used in other situations? If so, what might cause it to be labelled ‘JV’, conventionally?

Wikipedia says "In a joint venture, both parties are equally invested in the project in terms of money, time, and effort.”

In the scenario I want to decide on whether to label ‘JV’ or not, the copywriter invests a lot more time and effort.

The company invests the money it takes to put together the mailing and to mail.

The copywriter does not invest money.

…so as I mentioned: just like work for hire, except payment in royalties.

…Wikipedia also says a JV in the UK must file with the appropriate authority the Memorandum of Association. And my question relates to the UK…

But I know the term JV is used when Memorandum of Association isn’t filed, and I’m interested in conventional use of the term JV, without being too strict about criteria.