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Joint Venture Aggreements

Getting into Business with a Friend? You may need a Joint Venture Agreement.

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
4) Dissolution
5) Assets
6) Governance
7) Management
8) Budgets
9) Disputes
10) Taxes
11) Financing
12) Breaches
13) Debt
14) Transfers

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.


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