A joint venture is a contractual arrangement whereby two or more people or businesses agree to work together toward a common goal, and to share the associated risks and rewards. A joint venture is different to a partnership in that its focus is not just sharing profits and it is more suitable for short term commitments.
Entering a joint venture arrangement with another person or business can enable you to reach a wider market to develop your business, access new distribution networks, and gain additional resources such as staff and technology from your partners. It also offers the protection of sharing the risks of the venture.
All commercial relationships are, by nature, complex and require planning and prior agreement if they are to be successful. We have created a concise Joint Venture Agreement, which provides a basic legal framework within which you can successfully operate new enterprise. It provides for a broad range of important legal matters which need to be in writing, such as: how each party will contribute financially to the project, the roles and responsibilities of each party, how decisions will be made and disputes resolved, how profits will be distributed, how confidential or commercially sensitive information will be protected and many more.
Having a lawyer draft a custom JV Agreement will set you back thousands of dollars. But you can get our easy-to-use complete customisable Joint Venture Agreement now, for a fraction of the cost.