I) What is a Joint Venture Agreement?
A joint venture agreement is a contract made between two or more individuals or companies to be in a joint venture. People who create a joint venture agreement want to collaborate on a project while remaining independent. For example: Company A and Company B want to enter in a joint venture agreement for the specific purpose of building houses.
II) Consideration and Planning for A Joint Venture Agreement:
When planning to enter a joint venture agreement there are a few factors to consider:
1) The Form of the Joint Venture: Will the joint venture be in the form of a partnership, LLC. or a contract between companies.
2) Scope of Business
3) Ownership and Control
Without a properly drafted joint venture agreement the parties can be severely under-protected both as to their rights and as to their asset protection
For more information about Joint Venture Agreements in New Jersey call Ruiz Doolan Law Firm at (201) 880-5563. Mention this blog for a free initial consultation.