Joint ventures can be an effective way of sharing risk and expertise on commercial projects. They can be formed in order to complete a one-off business deal, or to run a series of ongoing investments and developments.
A detailed legal document needs to be created so that all parties involved in the joint venture have a clear, comfortable, understanding of how they will work together. This legal agreement sets out the rights and responsibilities of each party and protects their investment. It also clarifies their liabilities in the event that anything goes wrong.
There are many different ways in which a joint venture can be structured. These can include establishing a limited company or a limited liability partnership.
If you are considering embarking on a joint venture, expert legal advice can help ensure that your enterprise runs smoothly and that you negotiate the best possible terms for you and your business.