This paper identifies the key lessons of managing international joint ventures (IJVs) from the perspectives of IJV experienced partners and managers. The study adopts a multi-method personal interview and self-administered questionnaire approach to identify the major management lessons. Broadly, the response categories are grouped into three distinct areas of learning: (1) the management of the IJV formation process; (2) management of the boundary relationship between partners; and (3) the management of the operation of the IJV. The paper elucidates the lessons regarding these three areas of IJV management and provides a set of propositions for future research.