In the absence of a joint enterprise agreement, the law may consider that your cooperation is indeed a legally recognized partnership and that it applies defarent government laws for tax and liability purposes. A joint enterprise agreement should contain the names of the signatories, the terms and purpose of the agreement, as well as any additional information on the project implemented. A joint venture agreement could also include clauses regarding the disclosure of sensitive information, termination and the duration of the business. Follow these instructions to start your joint venture. Once you have a good partner in mind and you have sent your letter of intent, you may want to consider creating your template for the agreement. A joint venture usually consists of two or more individuals or companies that come together to carry out a limited project in terms of scope and time. Once the project is completed, or on a fixed date in the future, the joint venture will end. A partnership usually involves a single corporation owned by two or more individuals, while a joint venture agreement covers a short-term project between several parties. The terms “joint venture” and “partnership agreement” are sometimes mixed, but do not relate to the same thing. A joint venture itself is not an autonomous legal entity and is not recognized as such by the regulatory authorities. Joint ventures are managed by private or legal entities. Typically, two parties enter into a joint venture for their individual benefits, which generally stem from the main objectives of the business project they are considering.
Whatever purpose you want to have in entering into a joint venture agreement, the most important document you should have is a joint venture agreement. If you are considering creating a joint venture, you need to know how to make your own joint venture agreement model. As you can see, there are different types of joint ventures that you can do and they depend on your main or objective goal for the formation of a dependent company. As you can see, a joint venture can be beneficial to your business as long as you know all about it and how you can close your own agreement and get the other party to sign. Before we start designing a model, let`s take a look at the important elements that your agreement should contain. Sony-Ericsson, now Sony Mobile, is another Japanese-Swedish joint venture to develop smartphones using each company`s respective expertise in consumer electronics and telecommunications.