Joint ventures are alliances which combine the skills, resources and efforts of a group of people or entities for the purpose of achieving a common commercial objective. A joint venture arrangement can be a useful method of sharing risk, combining skills and technology or entering new markets without the need for a full scale merger or binding the parties’ entire undertakings.
Joint ventures are complex and legal advice is imperative to ensure that all legal and commercial issues are addressed. Specialist advice at the structuring and planning stage will help you choose the best method for pursuing the joint venture and identify the key issues which will require careful consideration and negotiation.
At Morecrofts, our specialist commercial solicitors have hands on practical experience of all issues which may arise when considering a joint venture or strategic alliance. We can advise on the alternative structures which the joint venture may take and can attend to all formation and incorporation requirements. The key documentation in any joint venture will be the main agreement governing the parties’ relationship, whether this is through a shareholders’ agreement, a partnership agreement or co-operation agreement.
An early consideration of the key issues is required for any joint venture including profit realisation, exit strategies and deadlock resolution.
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