There’s no strict legal definition for the term “joint venture.”
A joint venture (JV) is an arrangement in which businesses work together, sharing risk, resources, and rewards.
A JV can be established between two or more companies, using documentation such as a memorandum of understanding, a co-operation agreement, or a contractual joint venture.
In some circumstances, it may be appropriate to form a new company. In this scenario, you could use various legal structures, the most common being limited companies (Ltd), partnerships and limited liability partnerships (LLP).
As your legal advisors, Greenways Law can help you identity and set up the structure that’s best for you. We’ll draft or review your agreements and negotiate on your behalf, building goodwill between all the joint venture parties.