Joint Venture Agreement
When your company has found the right business to partner with for a new project, service or other endeavor, you can outline the terms of your new undertaking in a Joint Venture Agreement. Joint ventures allow you to tap into the knowledge, network, name recognition, or even production capabilities of another company or individual rather than going it alone. Usually, both parties have an equal stake in the venture, and will both reap the benefits.In a Joint Venture Agreement, you lay out your business objectives, and how much each party is contributing. You will also detail the roles and responsibilities for each joint venturer, and how the profits and losses will be divided. A Joint Venture Agreement is similar to a partnership, but lasts for a defined period of time. After the business project ends, the joint venture ends. In writing your agreement, you'll also want to specify how it can be terminated if it's not working out. Whether you're starting a new project or producing a new product, a Joint Venture Agreement is a way to increase efficiency - and profitability - for both of you.
Use the Joint Venture Agreement document if:
- You would like to enter into an agreement with another company/individual to work together for a common business objective.
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