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Get your joint venture off to the best possible start with the advice of our corporate law specialists. We take a practical but strategic approach to help businesses and entrepreneurs put in a place a strong foundation, so you can focus on bringing your vision to life.
Glanvilles Corporate team has wide ranging experience in assisting clients in setting up joint ventures and in negotiating and drafting the agreements and ancillary documentation.
Joint ventures often take the form of a limited company in which the joint venture parties are shareholders. They may also be purely contractual in which case a limited company is not incorporated and the rights and obligations of the joint venture parties are determined by contract.
For expert business legal advice, please speak to our corporate lawyers in Chichester, Fareham or Havant or use our simple enquiry form to ask a question and get a quick response.
If you are planning on entering into a corporate joint venture, our team have the expertise and experience to guide you through the process as swiftly and cost effectively as possible.
We are skilled at helping businesses navigate complex aspects of corporate and commercial law, side-stepping risk while grasping opportunities with both hands.
We take a strategic approach to provide each client with a bespoke service – every commercial vision is unique, so the advice we give is carefully tailored to suit each client’s individual needs.
Our expertise includes:
We have a wide range of expertise working across a broad range of sectors, with particular expertise in the IT industry.
A Joint Venture Agreement (also sometimes referred to as a Co-Venture Agreement) is a contract between two or more individuals or businesses to undertake an enterprise together.
Joint ventures can be set up for a variety of reasons, such as to develop technology to assist the purposes of the venture members’ individual businesses or to collaborate on an entirely new business idea.
For example, Google and NASA embarked on a joint venture in 2005 which involved setting up a partnership to develop a range of new technology to benefit both organisations. The results included the development of Google MARS which used Google Earth technology to make the mapping of Mars accessible to the public.
Whatever the purpose of your joint venture, a Joint Venture Agreement formalises the arrangement and protects each member’s position.
The Joint Venture Agreement regulates the terms of your enterprise, which is especially critical if you are not using a formal business structure such as a limited liability company to move forwards with your venture.
Joint Venture Agreements typically cover:
There is no legal requirement about the exact way you should structure your joint venture. This will ultimately depend on your commercial interests and the best way to facilitate your mutual agreement.
As part of our corporate law service, we can talk you through your options and provide simple, practical advice, so you can proceed with confidence.
There are two main types of joint venture:
The agreement does not technically need to be in writing. A Joint Venture Agreement can simply arise by two or more parties’ mutual agreement to embark on a business activity together.
There have also been cases of an Agreement being inferred by the parties’ words and conduct within the context of the matter.
Although a written agreement is not strictly required, it is always safer to put your agreement in writing to make sure there can be no confusion or conflict about the terms. Joint ventures tend to rely on careful funding and management, so there is commercial risk as well as opportunity for all the parties.
A written Joint Venture Agreement can clearly set out the terms of the agreement so there can be no ambiguity about what is expected from the parties. The Agreement also reduces the risk of protracted disputes arising should the parties fall out or one party wants to leave.
Without a written agreement, it is common for litigation to arise out of any disputes. This can be very expensive and time-consuming for everyone involved, not to mention the risks to each party’s commercial interests and reputation.
A Joint Venture Agreement is not your only option. We can provide advice about whether a joint venture is right for you or whether you may benefit from an alternative, such as:
Our corporate lawyers have garnered a wealth of experience over years, having worked with businesses of all sizes and structures across a wide range of sectors.
As a result, we can offer you a highly personalised service with advice carefully tailored to suit your individual business needs.
We build strong, long-term relationships with our clients and are proud to be the go-to law firm for many local businesses in and around Hampshire and West Sussex.
Our expert team includes Partner Lance Terry, an experienced lawyer with a strong background dealing with corporate transactions, including joint ventures. He 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 to enquire.
For expert business legal advice, please speak to our corporate lawyers in Chichester, Fareham or Havant or use our simple enquiry form to ask a question and get a quick response.
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