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Joint venture agreements solicitors

Many businesses join together to achieve a common business goal which can range from increasing sales to gaining access to experts and specialist knowledge. A joint venture agreement is made between two or more parties. It is important to seek independent expert advice to ensure any agreement meets your specific needs, contact our joint venture experts on 0161 696 6170.

Our solicitors have experience of drawing up joint venture agreements in numerous industry sectors, so you can trust our corporate solicitors to draft a comprehensive agreement including all the necessary provisions that are required for each party’s aims and objectives to be fulfilled. Whatever your requirements, we will ensure the agreement is fair to both parties by recognising the contribution made by all parties and ensuring you understand the agreement and what it is expected to achieve.

We are experts in drafting joint venture agreements in the UK. Whether you are looking for a joint venture agreement for a new business, partnership or for an existing business, our contract lawyers can help you. Contact us today to speak to our solicitors.

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What is a joint venture?

The term "joint venture" usually describes a commercial arrangement between two or more separate businesses. A joint venture can be set up as a limited liability company, a limited liability partnership, a partnership (or limited partnership) or a purely contractual co-operation agreement.

What is a joint venture agreement?

The purpose of the joint venture agreement is to establish the basic rights and obligations of the parties in relation to the joint venture, to ensure that the company and its business is established and run in accordance with the participants' objectives and to prescribe, as far as practicable, what happens if difficulties occur.

Because of the different nature of individual joint ventures, the participants and the business concerned, the detailed provisions of the joint venture agreement vary considerably from case to case.

Types of agreement

Our corporate solicitors are able to advise on both contractual joint ventures, which just involve an agreement to cooperate (as opposed to a separate business being formed) as well as more formal incorporated joint ventures where a separate business is set up.

Joint venture agreements typically include details on: the structure of the joint venture, the objectives, the financial contributions you will each make, ownership of intellectual property created by the joint venture, management and control, the sharing of liabilities, profits and losses, the handling of disputes and an exit strategy. However, our agreements can also include items that are unique to your circumstances for example details on competition rules, royalties etc.

What will a joint venture agreement cover?

  • The object and scope of the joint venture
  • The capitalisation and financing of the company
  • The composition of the board and management arrangements
  • Provisions for distribution of profits
  • Transferability of shares in different circumstances
  • Provisions for protecting the minority (if any)
  • Provisions for unwinding a deadlock in a 50/50 venture
  • Provisions relating to the termination of the joint venture
  • Restrictive covenants on the company and the participants

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