JOINT VENTURE AGREEMENT SOLICITORS
Are you looking to set up a joint venture with other companies or individuals? We can ensure you have the right legal advice and support
EXCITING TIMES AHEAD – Get the correct legal advice!
It’s exciting to get a new project underway. What is essential, is that all parties know what their responsibilities are and what happens if there is a dispute during the joint venture. We see it a lot when things go wrong.
Free to download guide to Joint Venture Agreements CLICK HERE
We can help you with:-
• Free initial no-obligation advise & consultations.
• Drafting a bespoke agreement, perfect for your needs.
• Help with negotiating an agreement you have been presented with.
What is a Joint Venture Agreement?
A Joint Venture Agreement (JV Agreement) or Collaboration Agreement is a legally binding document between parties that intend to work together to achieve a common goal. They are very common amongst shareholders in a company.
A typical example is where a property investor wants to work with other investors or developers to build or renovate a property to make a profit. In such situations all parties need to know what their responsibilities and what the exit strategies are. They also need to know what to do if one party fails to do their job properly or at all. This is where a Joint Venture Agreement comes in.
A JV Agreement will set out in detail how the different parties will co-operate together or work collaboratively on a commercial project.
The agreement will set out the objectives and time-lines of the project, responsibilities and obligations and how the spoils will be divided. It should also set the procedure for any disputes or deadlocks that may arise.
Common situations occur when two directors who each own 50% of the shares, fall out or one wishes to sell up. In the absence of a deadlock clause in a Joint Venture Agreement or a well drafted Shareholder Agreement, the parties could look towards mediation, the appointment of an expert to help or maybe bring in another shareholder to make a majority decision.
If this does not achieve a result, then court proceedings can be very costly.
Having a well drafted Joint Venture Agreement will set out the mechanism to deal with disputes.
Advantages and Disadvantages of a Joint Venture Agreement
- Different experiences and expertise pooled together
- More Resources
- Shared Risk and Costs
- Temporary Arrangement
- Mechanism for dealing with disputes
- Accelerated Business Growth
- Different Management Styles
- Lack of Commitment or Focus
- Misunderstandings or Conflicts
- Objectives not clear
- Poor exit strategies
How can we help you?
If you are serious about entering into a Joint Venture, make life easier by getting an agreement drafted by us which capitalises on the advantages and mitigates the disadvantages of such arrangements. We can also advise you on other relevant matters that you may need to consider.
All initial enquiries are completely free of charge. We can offer a fixed fee quotation.
Make An Enquiry
Why Choose Us?
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VERY COMPETITIVELY PRICED – Including fixed fees for your peace of mind