Forming a Joint Venture

Forming a Joint Venture

A joint venture consists of the joining of resources in pursuit of a venture, the success of which collaborating parties have a direct interest in. the concept of a joint venture involves a more speculative and intertwined relationship, formed for the purpose of achieving shared end objectives; as compared to the more commercially certain arrangements created by rental, sale, employment and service contracts, in which the parties’ identities remain relatively distinct and where their common goals are narrower in scope.

Two examples of joint ventures involve agreeing to collaborate through a partnership (an unincorporated joint venture) or incorporating a company (an incorporated joint venture).  This Legal Precedent is for a partnership Joint Venture. Accordingly, no company is formed and only a contractual relationship exists. As such, the rights and obligations of the parties are determined by the contract itself.

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Do you need a Joint Venture Agreement? See Our Legal Precedents – Joint Venture Partnership and Our Memorandum of Understanding (Joint Ventures). You can also purchase a Joint Venture Bundle, if you require both agreements. The Joint Venture offers a 5% discount.

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