Joint ventures provide companies with a solid vehicle to come together and pool finances and resources to develop a specific project. If the parties concerned are governed by a well-developed joint venture agreement, there is no reason why the undertaking should not succeed. A joint venture agreement is a contract between two or more persons or companies that wish to carry out a new discreet project, launch a new service or implement another type of specific cooperation to obtain a profit. A Joint Undertaking Agreement is more limited than a Partnership Agreement, as the Parties only cooperate on a specific activity. The joint venture created by this agreement (the `joint venture`) will operate under the name of [name of joint venture] and will have its registered address at [address]. The Joint Undertaking shall be regarded in all respects as a joint venture between the Parties and, in any event, this Agreement shall not be construed in such a way as to establish a partnership or other fiduciary relationship between the Parties. CONSIDERING that the parties wish to set up a joint venture to cooperate with [DESCRIPTION OF THE JOINT VENTURE], in order to prevent conflicts from overstrapting and threatening the entire project, a well-developed dispute resolution process within your joint venture agreement is indispensable. There should be clear guidance on the first steps to be taken when a dispute develops, as well as clauses relating to arbitration and mediation and whether or not compensation can be demanded if the dispute causes harm to the party. A joint venture agreement is a contract between two companies or individuals who agree to cooperate to achieve a specific objective. A completed joint venture template should contain details such as the members of the company, the responsibilities of the members, the objectives of the company, as well as the start and end date.
Now you have planned your joint venture and are ready to make a deal with a second party. In order for you to create a good example of a joint venture agreement, you might need a few useful steps and tips to guide you. The document is an important fundamental document for the creation of a joint venture with another person or undertaking and helps the parties to sketch out clear communication for their joint venture. . . .
