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The commercial enterprise involving uncertainties, risks, and hazards, in which a vessel and cargo are subjected to the peril of a loss, delay or damage at sea. Merchandise is shipped by the seller on speculation to arrive safely at a foreign port to be sold for a profit. The vessel carries the merchandise in order to earn freight. The vessel and cargo together make up the "common venture." In clipper ship days, the captain participated in the profits of the venture to give him the incentive to make profitable voyages for the owners. Fishing vessel owners still give their crew "shares" of the venture's profits.