Joint venture Agreement

venture agreemnet

What is Joint Venture

Joint venture is where two or more Companies joint (or) two or more individuals joints together and form a separate legal entity or carry out a Project. In simple words, if your company has a unique concept or business idea and another company is interested in collaboration for promotions and sales, this is a form of Joint Venture.

What is Joint venture Agreement

Joint venture agreements brings two strong organisations together for a common purpose and clearly defines every terms and conditions to start a new venture to achieve their common Goals.

What are the advantages of Joint venture

Risk Sharing

Collaboration of Resource

More Technical Knowledge

What is difference between Joint Venture agreement and Partnership agreement

There are some similarities between Partnership and Joint venture. Only a small line of difference between both the type of arrangements.

The First one: Partnership is one where two or more individuals joints together and starts a business as a Partnership Firm but whereas here in JV it need not be a partnership firm.   The second difference is Taxation. Both the companies can pay tax separately for their own remuneration.

What are the points that need to be incorporated in the JV Agreement

Name and details about both the parties

Duties & responsibilities of both parties

Name of Joint venture Company

Joint venture’s Object Formation

Contributions by the Parties

The Profit and Loss sharing

The Liability Clause

Termination clause

The above Agreement will completely specifies all the terms and undertakings of both the parties Once it is approved by all the parties, it need to be signed by both the parties and witnessed by two people. Then it becomes a valid contract.

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