If you are thinking about entering a joint venture agreement, you will need an experienced and dedicated Virginia business lawyer to guide you through this process. Contact our office today to schedule a free consultation. In the meantime, here is some useful information about joint venture agreements.
Joint Venture Agreements | Information
If you are looking to expand your business and enter into new and profitable markets, joint venture agreements can be an attractive option. A joint business venture is a special type of business relationship in which multiple parties enter into an agreement for a specified period of time towards the realization of a specific goal.
Joint Venture Agreements | Contract
Depending on the nature of the goal involved, a joint venture can be drawn up in a contract between existing businesses or executed through the creation of a separate corporate entity, such as a limited liability company (LLC). Regardless of through which route a venture is established, it is critically important that partners draft a contract which clarifies the nature of the business relationship.
This contract should include terms such as:
- A specified time frame for the partnership
- The overall goal of the business venture
- How much and by what means each party contributes
- Agreements for how profit and loss will be shared
- Terms for termination of the business venture
When a dispute arises and no formal contract is in place, it may be left to costly and time-consuming litigation to resolve issues. At The Strong Law Firm, we understand that a delay or setback to your business has the potential to threaten your livelihood and for this reason we strive to find the best solution for each of our clients. Our lead attorney possesses an in-depth knowledge on business law and can advise you regarding the agreements and contracts which can be created to protect you in a joint business venture.
Joint Venture Agreements | Hire an Experienced Business Lawyer
At The Strong Law Firm, we understand that each business partnership will have unique goals and thus requires personalized attention. Our Virginia joint venture agreements lawyer has more than 35 years of experience protecting the interests of business in all industries and will work to provide the one-on-one attention that your business deserves. If you have questions regarding joint venture agreements or other business partnership, do not hesitate to contact our firm today.