This allows the foreign company to sell their goods and services while the domestic company handles the legal side, taxes, etc. At Hoeg Law, we assist companies and business owners with setting up partnership agreements and provide top quality legal guidance through these agreements. (h) “JVC” means the Joint Venture Company to be jointly promoted by the PARTIES hereto in accordance with and as indicated in this Agreement. Another common joint venture is in real estate. This agreement is not intended to create a general joint venture between the parties. Percentage of ownership across all parties, Employment – details the employees and/or independent contractors involved. The two work together through a joint venture to create a computerized device that makes use of each other’s expertise. Whereby, the Parties agree as follows: 2.Definitions 1. joint venture, for the purpose of engaging generally in the business provided for by terms and provisions of this Agreement. PURPOSE. Forming a joint venture normally involves the legal process of creating a memorandum of understanding, a joint venture agreement, sorting out any ancillary agreements, and obtaining regulatory approval. Benefits of Having a Joint Venture Agreement. 3. The name of the joint venture will be “The 4xtra Project”, and may sometimes be referred to as “4xtra” or the “Joint Venture” in this Agreement… While similar to a partnership, joint ventures are not partnerships because they involve companies instead of individuals. In this case it is financially wiser to form a joint venture to make use of each other’s expertise instead of going through the expense of acquiring all of the expertise themselves individually. We're working remotely to meet client needs. Joint Venture Agreement PDF Sample. Saving money – Oftentimes one company specializes in an area of expertise that the other doesn’t. Because of this, it is strongly recommended to reach out to a business law attorney specializing in joint venture agreements to make sure all parties involved are protected and the agreement is properly set up. 2 This assumes the joint venture will be a corporation although other alternatives include a limited liability company, a general partnership, a limited partnership, or a contractual joint venture. This protects all parties and spells out details such as profits and losses and how decisions are made regarding the joint venture. The Hoeg Law Firm is committed to providing top quality legal expertise through the current health crisis. JOINT VENTURE AGREEMENT This JOINT VENTURE AGREEMENT ("Agreement"), made on September 24,2013by and between ULTRA HEALTH, LLC, an Arizona limited liability company … Joint Venture Agreement PDF Sample Joint ventures can vary in length depending on the complexity of the business partnership but these contracts are generally around 20 pages in length. (g) “JOINT VENTURE AGREEMENT” or “THIS AGREEMENT” shall mean this present Agreement and shall include any subsequent written modification and amendments thereto. All decisions of the Management Committee shall, desirably, be unanimous. The purpose of the partner ship is to purchase the house located at_____ One may specialize in financing and the legal side of the property, while the others focus on the contractor work itself and managing the construction site. When forming this type of agreement, it’s advised to consult with an attorney who specializes in drafting business contracts so that the terms are legally documented and your legal interests are protected throughout the partnership. March, 2004: Edition 1 of CIDB document 1017 Page 6 CIDB Joint Venture Agreement 4.2.3 Decisions Each Representative shall have one vote on the Management Committee and where, in terms of this clause, a casting vote is required, this shall be exercised by the chairman.

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