Joint Venture Agreements
“Alone we can do so little; together we can do so much” – Helen Keller
Joint ventures are a common business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. Joint ventures are very popular within the property investment and small business worlds but are equally as viable in order to enter a foreign market.
Joint ventures can be easy to set up but are risky if not set up correctly.
Risks lie in poor partner selection, contractual ambiguity, lack of clarity about goals and objectives and the absence of dispute resolution procedures. Talk to us first and we will suggest areas for you to negotiate with your proposed joint venture partner. After that we can draft your joint venture agreement.
Other areas to consider include the correct vehicle for your joint venture (you might form a new company or an LLP), termination of the joint venture, how profits will be divided and how the joint venture might secure future finance.
Heald Solicitors can guide you in making the right decision.
If you have any questions about entering a joint venture please call David Dees on 01908 662277