Joint ventures offer lucrative opportunities for all parties involved. At Sequoia Legal, we help our clients understand and mitigate the risks involved in the ventures they are contemplating. We also work diligently to ensure that all aspects of the paperwork are airtight and reflect our clients' interests and needs.
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A joint venture occurs when two or more parties enter into a business arrangement for the purpose of achieving a specific goal. During the venture, each party equally shares the profits, losses, and risks associated with the arrangement. However, the venture is a standalone entity, separate from each party and their business interests.
Although they do not have to be partnerships, depending on the structure, some partnership laws may apply to joint venture agreements, such as laws and regulations dealing with income tax.
Joint ventures are usually limited in time and scope and are often used by businesses to enter foreign or non-local markets. For instance, a business looking to enter a market in a different state or country can do so by entering into a joint venture with a business already in that country — rather than physically moving part of the business there.
Joint ventures are attractive because of the rights afforded to each participant, which may include:
A participant in a joint venture also has the right to continue operating as a separate entity throughout the life of the joint venture, as well as after the joint venture has ended.
Joint ventures can be beneficial arrangements when entered into wisely. However, entering into one without proper preparation and understanding can lead to significant business liability and difficulties.
At Sequoia Legal, we make sure our clients' interests are reflected and protected in the documents we prepare. We are meticulous in ensuring that all questions relating to the venture are adequately addressed before our clients begin working with other companies, such as questions about resource allocation.
We make sure to clarify which parties are responsible for providing the precise resources necessary to the venture, such as employees, materials, intellectual property and any other type of resource. Doing so helps us ensure that both sides equally contribute resources to the joint venture.
Our work with joint venture agreements also proactively addresses potential disputes that may arise in the future in order to minimize their impact on the venture.
When you enter into a joint venture, you will find that well-thought-out plans and legal preparation make for a smoother venture. The attorneys at Sequoia Legal are here to provide the guidance you need to start on your journey toward accomplishing your business goals.
Our joint venture attorneys are ready to help you realize your business objectives. Call or reach out online for a free initial consultation today.
Successfully entering into and working in a joint venture requires companies to address various levels of business dealings, all of which benefit from attention from attorneys.
The ownership structure defines the rights and responsibilities of each party in reference to the venture and the assets involved in the venture.
The business plan is the road map of the venture. The keen eye of an experienced attorney is invaluable in helping formulate this plan for limiting liability and maximizing profitability.
The experience and skill of an attorney are essential in the drafting of contracts and agreements in a way that protects their clients.
Many ideas look great on paper. However, you need a lawyer who can not only negotiate the terms you need but also close the deals you make.
With a joint venture lawyer advising you on any relevant tax considerations, you can confidently conduct business while limiting your risk.
Instead of getting bogged down trying to determine any applicable insurance requirements, your lawyer will handle this aspect for you.
With a joint venture attorney advising you, your business will be in an optimal position with reference to risk and reimbursement.
Companies that use the services of a joint venture lawyer benefit from having a secure position when disputes arise that need resolution.
Whether you're a small business or a large company, you need the experience and protection that a joint venture lawyer brings. At Sequoia Legal, we have worked with clients of all sizes across many industries and have helped them develop fruitful ventures with other businesses.
Our success with clients is due to our knowledge and experience in business law, as well as the close attention we pay to each client. You matter to us!
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Our joint venture contract lawyers have years of experience helping businesses engage in profitable joint ventures. They have the know-how to skillfully draft operating agreements that reflect their clients' interests.
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Sequoia Legal is ready to help you with your joint venture plans. Your needs are unique and important to us, so you will never feel like just another client.
Call our office or contact us online to set up an appointment for a free initial consultation to discuss your plans.
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Barring unusual issues or complexities with the document, a joint venture agreement takes three to five business days to draft.
A share purchase agreement involves one business purchasing a portion of shares from another business, whereas a joint venture deals with two or more parties creating a new business or other contractual relationship.
A car company entering into an agreement with another car company to manufacture automobiles is an example of a joint venture. Two independent contractors pooling resources to win a construction bid is also an example.
One limitation of joint ventures is the reduced amount of autonomy a business has — compared to when operating solo. Another limitation deals with a company's limits to which it can insulate itself from liability created by other companies.
