Joint Venture Agreements
If your business plans involve pooling knowledge, then a joint venture agreement might be ideal. These are needed when two or more businesses join with a specific aim, even if it is just to make more sales.
To protect your own company’s interests, it is vital to seek independent legal advice to ensure any Joint Venture Agreement will work for you and your business.
Monarch Solicitors can help draft Joint Venture Agreements which are designed for businesses to co-operate or to formally incorporate. We can advise on:
- The best structure of the joint venture
- Its objectives
- Financial contributions each party should be making
- Issues regarding ownership of intellectual property rights
- Management and control
- Sharing of liability
- How profits and losses will be divided
- How disputes should be handled
- Ensuring a comprehensive exit strategy
- Competition rules
Contact our Corporate Solicitors:
If you would like to enquire for any matters regarding Joint Venture Agreements please complete our online contact form here or send an email to us at [email protected] and one of our solicitors shall call you back.
Alternatively, please call our corporate solicitors in Manchester on 0330 127 8888 for a no obligation discussion.
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Where there is no written Joint Venture agreement, a non-contractual Joint Venture may arise if the parties agree they are in an arrangement to carry on a project or business activity together. This intention can in some circumstances be inferred from the facts, circumstances and conduct of the parties. However, it is very risky to pursue a Joint Venture with another party without a written Joint Venture agreement. This is because the Joint Venture agreement, amongst other matters, specifies the responsibilities of parties, as well as the profit and loss distribution between the parties.
Not necessarily; however, a Joint Venture may require detailed clauses to adequately protect the interests of the parties. We would always recommend a solicitor’s input on drafting the Joint Venture agreement.
Yes, a Joint Venture agreement can be between two or more parties, provided all parties sign the Joint Venture agreement. It is also possible for a non-contractual Joint Venture to arise between two or more parties, provided there is sufficient evidence from the parties’ conduct that they intended to enter into a Joint Venture arrangement.
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