Joint ventures in business encompass the union of two or more companies in a pseudo-partnership for an explicitly defined period of time. The parties involved in a business joint venture agreement will all share liabilities, risks, expenses, and initial contribution of assets during the formation of the venture, and if successful, the mutual benefits of any revenue will also be shared according to contract agreements. The entities undergoing a joint venture together will be, in essence and legally speaking, forming an entirely new business together with all parties contributing some form of equity to the business joint venture. The structure of a joint venture company can take the form of partnerships, corporations, or limited liability corporations.
At Greystone solicitors we have in-depth expertise in contracts drafting, sale agreements, partnerships agreements, confidentiality, joint ventures and shareholder agreements and our lawyers are experts in commerce laws, contract labor laws, and corporate laws.
Our Process on Joint Venture Agreements
All companies involved must meet the following state standards
File for trade name certification with Corporate Affairs Commission (CAC).
Our lawyers draft contracts or agreements defining the intent to establish a business joint venture
We will include an agreement on the equity control and ownership of each party, reasonable contribution of equity or assets by all parties involved.
Establish an agreement for the sharing of revenues and losses according to applicable laws.
The agreements and terms within which a joint venture operates is defined by the defined or implied agreements between all contributing equity partners in the business joint venture. Our role at Greystone Solicitors is to protect and promote equity interest and proprietorship in a company and also mitigate any future liability and responsibility for losses, which clients may endure.
Although domestic business joint ventures do exist, an estimated seventy-five percent of all joint venture businesses operate on a global or international scope. Our intricate knowledge from in depth experience of the workings of the complex arena of international trade and commerce law, as well as all the laws, regulations, taxation, and statutes pertinent to a respective foreign countries makes a unique legal office capable of handling JV negotiations of any size.