IFRS 11, IAS 28

sir what are some specific differences between joint operations and joint ventures? I mean i understand that the former’s presentation is vastly different from latter, and that a separate entity is created in case of Joint venture. But am sure there is more to JO and JV than what meets my eye.

Perhaps that JV has limited liability, whereas JO has unlimited liability? Let me know sir if this is correct or not. And if you can think of any more functional and/or operating differences than what are merely mentioned in some recognised study texts.