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Joint Ventures

Glanvilles’ commercial team has wide experience in assisting entrepreneurs and all types of businesses with setting up joint ventures.

If you are considering entering into a joint business venture, our specialist joint venture solicitors can offer you straightforward, practical advice ensuring a solid legal foundation that will get your business off to the best possible start.

Our commercial team can negotiate and draft all the necessary agreements and ancillary documentation for businesses wishing to set up a joint venture in Chichester, Fareham, Havant and across the wider Hampshire and West Sussex areas.

Our joint venture legal advice covers:

  • Joint venture agreements – Advice and preparation to jointly invest and set up a commercial joint venture
  • Business structures – Advising you on your best options to suit your particular needs, such as whether a limited liability company, traditional partnership, limited liability partnership or a standalone contractual agreement would be most appropriate for your circumstances
  • Company formation - Preparing Articles of Association, a Memorandum of Association and a Shareholders Agreement as required
  • Corporate agreements - Preparing Partnership Agreements, Limited Liability Partnership Agreements and Cross Option Agreements
  • Intellectual property advice
  • Employment law advice - Preparing employment contracts, service agreements and advising on TUPE (transfers of undertakings)
  • Commercial disputes advice and representation
  • Partnership disputes advice and representation

We work with all sorts of businesses of varying sizes and structures on a local, national, and international basis, providing specialist expertise extending across a broad range of sectors including IT and property development joint ventures.

By combining our technical legal expertise with practical commercial know how we can provide exactly what is needed to help your joint business venture succeed.

Get in touch with us for business joint venture legal advice

Give us a call at your local branch in ChichesterFareham or Havant or fill in our simple online enquiry form for a quick response

Why choose our joint venture solicitors?

Entering into a corporate joint venture can be an exciting yet complex process with significant risks attached to it. Our team at Glanvilles have all the necessary expertise and experience to advise you on your best options, helping you to formulate the right action plan to secure your business goals.

We are highly skilled at helping businesses to navigate the complex aspects of corporate and commercial law, avoiding pitfalls and mitigating risks whilst maximising the potential opportunities a joint venture can provide.

Taking a strategic approach and offering carefully crafted advice, we tailor our service to match your unique commercial vision.

Our expert team includes Partner Lance Terry, an experienced lawyer with a strong background dealing with corporate transactions, including joint ventures. Lance also provides a range of associated commercial law advice to help businesses make their commercial ventures a success, including contracts and intellectual property advice.

Our Corporate team also includes Scott Richardson, a skilled lawyer who specialises in all corporate and commercial law matters. If you are an entrepreneur, start-up, or early-stage business in or around Chichester, Scott is available to provide a free 30-minute consultation to discuss your legal requirements. Get in touch with Scott at scott.richardson@glanvilles.co.uk.

The Glanvilles’ client service promise

Your experience with us is extremely important. You will have your own personal lawyer who will take responsibility for progressing your matter and making sure things move forwards as cost-effectively as possible.

When you use our commercial law service, we promise:

  • Our staff will be friendly, respectful, and attentive
  • Your concerns will be listened to, your questions answered, and your options explained in plain English
  • The cost of dealing with your requirements will be made clear to you from the outset
  • We will answer your phone calls and emails promptly
  • We will keep you regularly updated at all times

How our joint venture solicitors can help your business

Strategic advice on the suitability of a joint venture

We can help determine whether a joint venture (JV) is the right course of action for you or whether you may benefit from other options better suited to your current business situation. These may include:

Business merger – merging your business may be more conducive to long term collaboration than a JV, which tend to be for short term solutions and limited in duration.

Strategic alliance – when two or more businesses cooperate to manufacture, design, develop and/or distribute goods or services. This type of arrangement tends to be more flexible than a JV and there may or may not be a formal contractual arrangement in place. This can allow each party to retain independence while working towards a common goal.

Setting up a joint venture

Setting up a joint venture is a complex and challenging process. We will help you determine your best options for structuring your joint venture and ensure you have considered the advantages and disadvantages, especially if you are making considerable changes to your existing business model.

Whatever you decide, we will ensure your joint venture has the best legal framework and safeguards in place with clear documentation and the necessary legal agreements about how things are going to work.

We will help you to determine how your joint venture will be set up, how it will be run, how profits will be shared, including what your liability will be if things go wrong.

Joint venture dispute resolution

Should any future disagreements arise, our highly experienced Dispute Resolution team will always be on hand to support and advise you on the best way to resolve matters.

Find out more about our commercial litigation expertise.

The Glanvilles guide to joint ventures

What is a joint venture?

A joint venture is a co-operative business arrangement between two or more parties who agree to work together to achieve a common business goal. 

They can be made up of individuals, groups of individuals, companies or corporations and can take the form of a wide range of collaborative business approaches with differing levels of integration over either fixed short-term or flexible long-term timescales.

Joint ventures often take the form of a limited company in which the joint venture parties are shareholders. They may also be purely contractual where the rights and obligations of the joint venture parties are simply determined by a contract.

Each business entity might contribute assets while sharing ownership, risk, returns and governance, dividing profits and expenses between them.

The types of Joint Ventures to consider include:

  1. Corporation – a company limited by shares
  2. Partnership
  3. Limited Liability Partnership
  4. Contractual Venture

Why enter into a joint venture?

Joint ventures appeal to business owners for many reasons.

By teaming up, businesses can expand quickly and cost effectively, achieving mutual business goals that may be difficult to attain independently of each other.

By joining forces, companies can combine resources, expertise and skills whilst saving on costs and timescales. By working together, companies with differing areas of skill and expertise can develop new products or services or break into new markets, achieving greater market dominance with greater speed and efficiency.

If you are thinking of entering into a JV, you may spend some time and resources discussing the opportunity with other parties involved. Before you do this, it is advisable to have a formal Non-Disclosure Agreement (NDA) in place that sets out the parameters of your discussions and protects any sensitive or confidential information.

How do joint ventures work?

A joint venture is the formation of a new business entity. It can take various structures such as a corporation, a partnership, or a limited liability partnership, which will depend entirely upon the nature and aims of the parties involved.

In practice, a joint venture arrangement will set out such things as management responsibilities, representation on a board of directors and how shares will be allocated.

When changing from an existing business model into a more complex one, a clear strategy and set of aims becomes essential to avoid conflicts or potential partnership disputes arising in the future.

Entering into a joint venture can be a complex business arrangement.  It is, therefore, vital to consider how it is going to work in practice.

If a joint venture is to be successful, it will need good working relationships, mutual understanding, excellent communication, clear documentation, and a firm commitment from all parties involved.

What are the advantages of joint ventures?

It is easy to see why a joint venture can present an attractive proposition to business owners and entrepreneurs looking to grow their businesses quickly, efficiently and cost effectively.

Major benefits of joint ventures can include:

  • Increasing capacity and output with increased speed and efficiency
  • Increasing market share and dominance
  • Accessing new markets and distribution networks
  • Overcoming geographical constraints, especially where one party already has a presence in a target region
  • Sharing costs, overheads, and risks
  • Accessing and sharing research, information data and databases
  • The pooling of assets and resources such as staff, technology, and finance
  • Improving access to knowledge, skills, and specialist expertise
  • The pooling of research and development to develop new products or services
  • Reducing the need for external finance, borrowing or investment
  • The opportunity to cross sell products
  • Creating flexible short-term arrangements, especially for project based property development joint ventures
  • Trialling the business venture with a view to greater commitment and a longer-term or permanent business partnership

What are the risks of a joint venture?

Despite having many advantages, there are significant risks attached to joint business ventures including those than can arise out of liabilities, disputes, and conflicts between parties.

Joint venture risks can include:

  • Lack of clarity on objectives and goals
  • Poor communication between parties
  • Unequal levels of investment in terms of time, money, skill, expertise, or other resources
  • Unequal distribution of resources
  • Differing expectations
  • Barriers to co-operation
  • Conflicting management styles
  • Differing culture and values
  • Lack of direction
  • Poor leadership
  • Lack of protection over intellectual property
  • Reputation damage

We can provide specialist joint venture legal advice for businesses and entrepreneurs to help minimise and manage these risks.

Get in touch with us for joint business ventures legal advice

Give us a call at your local branch in ChichesterFareham or Havant or fill in our simple online enquiry form for a quick response.