A joint venture agreement is an alternative where two or more businesses combine their respective operations for mutual benefit. Joint venture agreements are frequently used to provide new services or expand into new geographic or operational areas. Such agreements can offer tax benefits, ease of management, and a combination of talent and resources.
When entering into a joint venture agreement, it’s important to have a comprehensive, written agreement between the respective parties. Churchill, Quinn, Richtman & Hamilton has the experience and sophistication necessary to create these agreements for our clients. When drafting a joint venture agreement, we address such issues as:
- Management and administrative responsibilities
- Sharing and transferring business assets
- Initial investments
- Ownership shares
- Profit and loss sharing
Regardless of a potential joint venture’s size or scope, attorney representation is imperative to protect the interests of all invested parties and properly launch the new entity. Our attorneys can steer the structuring of the agreement and allow the new operation a solid footing for commencing its operations.