What is a joint venture?
"A joint venture is a legal organization that takes the form of a short term partnership in which the persons jointly undertake a transaction for mutual profit. Generally each person contributes assets and share risks. Like a partnership, joint ventures can involve any type of business transaction and the "persons" involved can be individuals, groups of individuals, companies, or corporations." LII at Cornell Law School
- To access new markets.
- To venture into new fields.
- To share technology for monetary benifits.
- To attain qualifying criteria.
- Identification of the participants
- Term of the agreement
- Percentage of capital contributions
- Responsibility of management of the business
- Responsibility of administrative matters
- Dissolution of the Joint Venture
CONTACT YOUR ATTORNEY to formulate the agreement.
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