A Joint Venture Agreement is a contract between two or more individuals or businesses who would like to undertake a new discrete project, start a new service, or do some other type of specific work together in order to make a profit. A Joint Venture Agreement is more limited than a Partnership Agreement, in that the parties are only working together for one specific activity.
In a Joint Venture Agreement, the parties come together to define the scope of the joint venture and their respective obligations so that everyone is on the same page before the new project, service, or other venture can begin.
The Joint Venture Agreement describes the purpose of the joint venture and sets up everything the parties' need in order to start their business together. Ownership allocations, including profit and loss, are one of the critical points of a Joint Venture Agreement, as is the termination clause.
The document is a critical foundational document for starting a joint venture with another individual or business and will help the parties outline clear communication for their venture together.
How to use this document
This document should be used when two or more parties, whether those parties are individuals are businesses, are looking to enter into a joint venture together. The joint venture can be for any legitimate, lawful purpose. This agreement will include everything the parties need.
This Joint Venture Agreement will allow the parties to enter the following information:
This Joint Venture Agreement will cover all the ground needed for two or more parties or entities to begin a successful new project.
When this document is completely filled out, it should be signed by all parties and each party should keep a copy. If possible, the original should be kept in the assets of the joint venture itself.
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