There are various different types and structures of joint ventures. While often the parties in the joint venture agreement will set up a new corporate entity owned between them to carry out their joint venture, the focus here is on contractual joint ventures referred to also as collaboration agreements or co-operation agreements.
The circumstances in which joint venture agreements of this kind can arise are usually very specific to the parties and are so diverse that it may not be useful to generalise too much about them.
As a starting point, what is always important is to identify what each party is to contribute to the venture whether for example in terms of equipment, intellectual property, information, expertise, customers, employees or funding. It is important to understand how what is generated by the venture is to be exploited and how profits, risks, costs, and liabilities are to be shared and what is to happen at the end of the venture. Where the venture is not a single project, it may be necessary to agree procedures for proposing, considering and approving projects.
In addition to identifying and addressing any legal issues which may arise, it is important when agreeing a contractual joint venture agreement for those involved to consider and anticipate practical issues and different or unforeseen circumstances which may arise and deal also with these.
Our commercial lawyers have significant experience and expertise in advising on drafting and negotiating contractual joint venture agreements.
If you are considering setting up or entering into a joint venture agreement and would like legal advice or assistance, please contact on our commercial lawyers on 08081668827.
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Disclaimer:
Information on this website is provided for general information purposes only. It is not intended to constitute and should not be relied upon as legal advice. There are a number of factors and circumstances which may be relevant to legal advice. The law may also have changed before we are able to update the information on this website. If legal advice is required, please contact us on 08081668827.
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