Need a Joint Venture Agreement drawn up?
- Your Joint Venture Agreement requirements
- What the process involves
- An estimated fee quote and time frame
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Commonly asked questions on Joint Venture Agreements.
Meeting everyone’s expectations when establishing a joint venture can be difficult. Our corporate solicitors will sit with you to understand the nuances of your business and draft you a bespoke agreement that protects your interests and your business.
1. What is a Joint Venture Agreement?
A joint venture is when two or more parties go into business together, sharing responsibilities, skills and capital.
A Joint Venture Agreement is a legally binding contract between the parties involved. Having this formal agreement in place defines each parties’ rights and obligations, covering aspects such as:
- Responsibilities
- Contributions
- Profit and loss sharing
- Exits and terminations
- Dispute resolution
2. Can I use a template for a Joint Venture Agreement?
You can find Joint Venture Agreement templates online, and if you decide to go down this route, you should do so with caution.
An online template can be considered cost-efficient, but it is unlikely to contain terms relevant to your circumstances, making it redundant if you end up in a dispute. It may also not be up-to-date with industry standards.
Consulting with a commercial solicitor to draft or review your agreement will prevent potential issues down the line and ensure you’re protected in all eventualities.
If you decide to use a template and then ask a solicitor to check it, they may still end up having to rewrite it.
3. What are the key stages of drafting or reviewing a Joint Venture Agreement?
The key stages involved in drafting a Joint Venture Agreement include:
- Initial discussions to understand the details of the agreement you want
- Outlining any specific clauses that you would like added
- Drafting the terms and conditions of the agreement
- Making any adjustments to the agreement to cover risks
- Sending the contract to the other parties and responding on your behalf
- If needed, negotiating the contract with other parties
- Finalising the contract, ready to be signed
Depending on your matter, a typical review of a Joint Venture Agreement will involve:
- Initial consultation to understand the details of what you seek from the agreement
- Outlining any potential implications for the company from the current agreement
- Negotiating any undesirable terms and conditions in the agreement on your behalf
- Making any adjustments to the agreement to cover potential risks
If you need a Joint Venture Agreement drafted or reviewed by a solicitor, we can help. Just give us a call on 0203 007 5500.
4. How long does it take to draft a Joint Venture Agreement?
Each Joint Venture Agreement is different as they are tailored to suit the specific circumstances of your business.
Other factors may also affect the completion time, e.g. how long it takes to negotiate between parties.
Your solicitor will give you a time estimate upon further discussions of your matter.
5. How much will it cost to draft or review a Joint Venture Agreement?
In the case of a Joint Venture Agreement draft or review, the cost depends on the length of the document and the extent of negotiations. Once you have outlined your needs with our solicitors, we can provide a timeframe and fee estimate. To request a callback from our commercial solicitors, please call us on 0203 007 5500.
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Meet our commercial team.
Paul Britton
Managing Director
Sophie Campbell-Adams
Director and Solicitor
Kim Pons
Solicitor
David Wainstein
Solicitor
Rory Lindsay
Solicitor
Alexander Grist
Trainee Solicitor
Leonardo Bosco
Trainee Solicitor
Aryan Fallahi
Trainee Solicitor
Grace Marchant
Trainee Solicitor
Why Britton and Time Solicitors?
Commercial law is our speciality. Our solicitors have worked on various Joint Venture Agreements, giving them an abundance of knowledge and experience in these processes. When it comes to your specific Joint Venture Agreement matter, we’ll always guarantee:
Award-Winning Service.
You are our priority, and the law is our speciality. Our award-winning corporate solicitors ensure you know exactly where you stand from a legal perspective so you can make a well-informed decision.
Full Billing Transparency.
No fee surprises. Ever. Our corporate solicitors will inform you from the outset how much your case will cost, and we will do everything in our power to keep costs down and within your original fee estimate.
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With fortnightly updates on your case, you’ll never be left in the dark. Our corporate solicitors in London and Brighton ensure you know exactly how your case is progressing and are with you every step of the way.
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Will to Win There are three things that make Britton & Time, and in particular Paul, stand apart from other law firms: knowledge, communication and a will to win.
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Our business agreement services.
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