Joint Ventures

A joint venture can take many forms – including partnerships, companies and trusts – but, whatever the form, a joint venture agreement is required to address such issues as:

 

  • funding – immediate and future
  • parties – will individuals stand behind corporate entities?
  • decision making – what decisions require simple majority or unanimous approval
  • retirement provisions
  • termination/default events – e.g. ceasing to work in the business, insolvency
  • buy/sell options – on what terms?

It is our experience that the preparation of an appropriate joint venture agreement at the commencement of the venture will force participants to address such issues in a calm and non-adversarial environment. Such action will often avoid expensive litigation at a later date.

Our focus is on using our experience to encourage the parties to address practical commercial issues in a pragmatic manner in addition to advising on the appropriate legal structure.