Partnership & Joint Venture Agreements

Partnership and Joint Venture Agreements

Businesses frequently seek to enter into projects with other businesses in order to boost the chances of getting a project or strengthening the services and profit that can be made.  Deciding whether your business should join with another in joint venture or partnership requires careful research and consideration.  Our talented Business Law Attorneys at Klun can assist your business with those decisions.

A joint venture is an agreement entered into by two businesses to develop, for a specific time or purpose, a new entity.  Both businesses have control over the new project and share revenues, expenses and profits.  Deciding how to share in liabilities and profits takes careful planning.  Joint ventures can be small projects or large projects.  Because the cost of new projects is high, a joint venture allows both businesses to share in the costs and profits.

There are several types of joint ventures, including contractual joint ventures, corporate joint ventures and partnership joint ventures.  In a contractual joint venture, both parties use a written contract to define the terms, obligations and liabilities of the party.  Our attorneys at Klun can assist with drafting these documents and make sure your business is protected.  A corporate joint venture incorporates the project into a separate legal entity.  In a partnership joint venture, the business form a general or limited partnership and the rights and obligations of the businesses are set forth in a partnership agreement.  Whether your joint venture is big or small, our Klun Business Attorneys can help you grow your business.