Joint ventures can present the most complex and sophisticated of demands on our lawyers, reflected in complex articles of association with classes of shares and differing rights, put and call options, share options, licensing and secondment agreements, tenancy arrangements, service agreements and the joint venture contract itself - all providing for the conduct of the venture and what happens on a break up.
The term “joint venture” has no particular meaning, at least in English law. The relationships between the parties involved will be an amalgam of law depending on the structure chosen, be it a contractual association, a partnership of some kind, a limited company or some other entity. As with all our practice areas where some of the parties are in other legal jurisdictions the amalgam of laws is yet greater as we must consider the interaction of legal systems. For example while individuals in contract may consider what law will govern their relationship the laws affecting a company or business premises, amongst other elements of a venture, will not be a matter of choice.
Naturally we can help with the choice joint venture vehicle – contractual, partnership, or company. A key driver is to ascertain just how close and permanent do the parties wish the trading relationship to be. The corporate structure typically involves the containment of the trading activities, assets, liabilities and risks relating to the joint venture operation, in a single vehicle giving rise to a separate legal and tax entity. With a contractual joint venture there may well be no pooling of assets used by the participants in the joint venture and perhaps even no general sharing of revenues and costs.
Having chosen the vehicle there remains an extraordinary number of matters to consider and documents to draft. Matters can become particularly complex around issues of value of contributions, rights of ownership and exit, restrictions on competing or parallel businesses and deadlocks.
Contact our Joint Venture Experts in Birmingham, London, Cambridge, Oakham, Nottingham & Loughborough Today
This is a complex area where experience really counts. Not only do we offer exceptional service, but also highly competitive fees for our services. Our specialist team members understand and appreciate your concerns and we pride ourselves on providing a comprehensive service of the highest quality, without the price tag of large City firms. For an assessment of how our team can help you with your business requirements, contact us today by calling 0845 094 9000 or email firstname.lastname@example.org and we will get back to you right away.