Joint venture agreements can take the form of contractual agreements, partnerships or even forming limited liability companies.
Expert advice for your joint venture agreement
WSP Solicitors have plenty of experience in creating joint venture agreements for many different types of businesses.
We will help you to draft a comprehensive joint venture agreement so that all parties concerned are on the same page. It’s important to establish the finer details from the get-go, this way there’s less risk of disputes or misinterpretations.
Our expert joint venture agreement solicitors can help you to draft the legal documents that best reflect your company goals and needs.
Schedule your free initial consultation
WSP Solicitors provides a free initial consultation, allowing you the opportunity to discuss your company needs with one of our commercial solicitors. Let us know your requirements and we’ll offer specialist legal advice, guiding you towards the appropriate next step.
Our joint venture agreements solicitors can arrange to meet you in person, via video conference or have a telephone call. At WSP Solicitors, we are dedicated to working around your business operations, providing a convenient legal service that suits your needs.
To book a free initial consultation with our commercial law team, please contact your local WSP Solicitors office in Gloucester or Stroud or use the enquiry form on the right.
How we can assist with your joint venture agreement
Establishing the details of your joint venture agreement
At WSP Solicitors, we start by establishing what you require from a joint venture agreement. We’ll determine your goals and requirements and answer any questions you have. Understanding your project will help us to draft the perfect legal document, improving your chances of business success.
Drafting your joint venture agreement
Once we’ve established the purpose and goals of your joint venture, we’ll draft the agreement to reflect these aims. At this stage we’ll have time to reflect on the draft together, ensuring that you are entirely happy with the terms and provisions.
Advice on your joint venture agreement
Before entering into a joint venture agreement, many businesses seek out legal advice. It’s imperative to understand exactly what you’re entering into, along with any associated risks. Partnering with another business can be a daunting venture. Unless you approach with caution, your company reputation could be on the line.
Joint Venture agreements explained
How does a joint venture agreement work?
Joint venture agreements are used to merge businesses for particular projects. The agreement operates based on a contract, ensuring that both companies are aware of their responsibilities and their rights.
Businesses start off by discussing opportunities with their potential collaborators. Once a project idea is in place, it’s vital to get the advice of a commercial solicitor. The companies must select the appropriate type of joint venture together and then create a draft of the joint venture agreement.
Once the joint venture is in place, the businesses in question must ensure that they pay the associated taxes and remain legally compliant. For advice on drafting your joint venture agreement, contact WSP Solicitors today.
Why might your business pursue a joint venture agreement?
Businesses might pursue a joint venture for various reasons. For instance, a company might be keen to break into new markets, create new products or expand internationally.
Without a strategic plan, it’s difficult to pursue a joint venture. It’s important to establish mutual values and objectives from the beginning. Joint ventures should be supported with dedication from both partners and detailed documentation.
What are the different types of joint venture agreements?
Joint venture agreements can take many different legal structures. To choose the most appropriate structure, it’s vital to get advice from a joint venture agreement solicitor.
The different types of joint venture agreements include:
Partnerships fall under the 1890 Partnership Act and do not form individual legal entities. Due to this, the partners share all liabilities and profits equally. To establish different terms, the parties must create a partnership agreement, outlining said terms.
Limited Liability Companies
Some joint ventures include high-value projects, requiring both parties to make a significant investment. In such cases, the partners may decide to form a new company to develop a product or service. Under these circumstances, the collaborative businesses can form a Limited Liability Company.
Contractual Joint Ventures
A contractual joint venture involves two or more companies collaborating on a joint project. All parties involved share expertise, knowledge and costs to develop the project on an ongoing basis.
When entering into a contractual joint venture, the involved businesses and individuals can negotiate the terms however they like. It’s advisable to consult a joint ventures agreement solicitor when drafting these contracts.
What are the benefits of joint venture agreements?
Entering into a joint venture agreement has many benefits. For example, a joint venture agreement gives both companies access to more resources. Sharing resources with another party means your business can take advantage of specialist tools, new markets and knowledge.
Collaborating gives both parties extra support and the opportunity to spread risk across two or more companies. Joint venture agreements provide improved flexibility as joint ventures can be short-term. Fixed-term arrangements allow for the development of successful projects without a long-term legal commitment.
What are the risks of joint venture agreements?
Joint venture agreements can involve several risks, for instance, the risk of disputes. Unless both businesses establish the terms and objectives at the start, disagreements will likely arise later on. For this reason, it’s essential to seek specialist legal advice.
Entering into an agreement means being closely associated with your partner company. It’s important to consider the impact that joint ventures can have on your branding. If the other party has a PR issue, this could also affect your reputation. WSP Solicitors can offer the legal advice you need to help protect your interests.
Why choose WSP Solicitors for your joint venture agreement?
Expert legal knowledge
WSP Solicitors have a wealth of experience in drafting joint venture agreements. We’ve worked with businesses in a variety of industries. When you choose us as your joint venture agreement solicitors, you’ll receive expert legal knowledge, helping you to drive your company forward.
Outstanding service standards
At WSP Solicitors we are proud to offer an outstanding service to all clients. A particular solicitor will work with you every step of the way, allowing you a single contact point to discuss your agreement in detail.
Experts in advising multi-million-pound companies
Our capable solicitors work with companies of all sizes, whether it’s solo entrepreneurs, family businesses or large corporations. Rest assured, you’ll have the legal expertise to suit your circumstances.
A service tailored to your business
WSP Solicitors take the time to understand your company and your aims, ensuring our advice is tailored to your requirements. We have a fantastic commercial understanding, putting us in the best position to give business-focused legal recommendations.
Law Society accredited solicitors with a reputation for success
We hold Law Society accreditation for our professional standards and our legal expertise. As well as this, we are independently regulated by the Solicitors Regulation Authority (SRA) providing assurance of our standards.
Contact our joint venture agreements solicitors in Gloucestershire
For legal advice on joint venture agreements, please contact your local WSP branch in Gloucester or Stroud.
If you would like to request a call back, or you have a query, you can also use our online enquiry form.