Due to the coronavirus outbreak, we are working mostly remotely with a critical presence only at our Edgware office. We remain open for business albeit in a new way and welcome all enquiries. We wish all of our clients and contacts, their families and friends, the very best through a most difficult time for us all and we will see you on the other side!
Risks, rewards, structure, pitfalls, control and exit strategy are important with any business joint venture.
Whilst Joint Venture agreements for small business need careful consideration, legal advice needs to reflect budgets, practicalities and risks and at Darlingtons we understand this and the commercial realities.
When most people think of a Joint Venture Agreement they tend to think about big multinationals on huge projects but joint ventures of all kinds are becoming an increasingly important way of doing business for small business also.
The issues arising with Joint Venture Agreements are broadly similar to those in shareholders agreements.
Having found a great business opportunity and identified a possible business partner who either adds something to the possible JV in terms of expertise, contacts, resources or synergy, it is important to then focus on practical realities and legalities.
To minimise the possibility of misunderstandings or disputes, a Joint Venture Agreement should incorporate the following essential clauses :-