Joint Ventures – Solicitors
A joint venture is often a useful vehicle for two or more companies to join forces and combine individual skills and resources to achieve a common aim.
The most common form of joint venture structure is a limited company which can own assets, conduct and defend litigation and contract with other parties. Obviously it also provides a tried and tested means of limiting the liabilities of the shareholders.
A joint venture agreement can be adapted to suit the needs of the parties.
For example a simple JV agreement might provide for the development of a property with provisions as to capital contributions, decision making, dispute resolution and the split of profits. A more complex agreement might involve the parties transferring businesses to a special joint venture company (JVC) in return for shares in the JVC and the agreement will have detailed clauses relating to voting rights, board representation and the transfer of shares. Bespoke articles of association for the JVC are normally also required.
It is essential that the rights and obligations of the parties are clear from the outset, particularly if there is a breakdown in the relationship later on.
Whatever your needs are our commercial team at Ralli can advise on the best vehicle for your project and prepare appropriate documentation for you.
Please contact our commercial team on 0161 832 6131 or alternatively you can get in touch by filling out one of our online enquiry forms placed at the foot of this page.
Find out more on our Corporate and Business Law page.