Joint Venture Agreement
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Joint ventures are a partnership undertaken by companies for running a business or a project to achieve a commercial objective. The nature of the j ...
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Schedule Call and discuss with the Lawyer your Document drafting requirements
Get your Agreement Draft
Lawyer will deliver customized draft of the Document as per your requirement
Contents of Joint Venture Agreement
Scope of Joint Venture
The joint venture agreement states the objective, purpose and defines all the relevant terms in the joint venture. The JV agreement identifies the original party and investing party.
Contribution of parties
The JV agreement outlines the contribution of parties in the venture. The parties decide how much capital, investment is to be contributed. Usually parties contribute in the form of capital, equity, goodwill or distribution channels.
Management of Joint Venture
The parties mutually agree upon the management of venture. This clause lays down the terms related to appointment and removal of the Board of Directors. It also states the composition, remuneration and conduct of the Board of Directors.
Financial arrangements
This clause sets out the ratio of profit and loss sharing. The JV agreement includes all the financial arrangements like tax implication, expenses, fund allocation, investments and profit distribution.
Force Majeure
The JV agreement provides relief to a party who is unable to perform the obligations. This inability to fulfill obligations is due to the events that are extraordinary or circumstance beyond the control of the parties.
Dispute resolution
The JV agreement includes a dispute resolution mechanism mutually agreed upon by the parties. Joint ventures often face conflict of interest and disputes. An efficient dispute resolution mechanism saves time and litigation cost.
Jurisdiction clause
Multiple entities are involved in joint venture, under the jurisdiction clause the parties mutually agree upon the jurisdiction to hear, settle and determine any dispute, controversy or claim arising in the venture.
Benefits of Joint Venture Agreement
In JV Agreement the parties share the risks and liabilities with the partner. Both the parties bear the losses and costs.
The JV agreement provides you secured access to market base, technology and expertise. It helps boost research and development due to availability of better resources.
The JV agreement secures the transactions of the parties and provides the parties legal remedies in case of dispute.
Deliverables
Dedicated Lawyer Available
60 Minutes of Talk time with the Lawyer for discussing requirements and changes in the draft
First Draft within 3 Days
First draft of the Document will be delivered within a maximum of 3 working days
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2 Iterations per Document allowed to incorporate your suggestions/changes
Frequently asked Questions
Who is liable in a joint venture agreement?
Joint ventures have a joint and several liabilities, which mean each firm, is responsible for the partnership’s actions.
When should a Joint Service Agreement be used?
A JV agreement can be used when you plan to expand your business, it can also be used when starting a new project or collaboration.
Is joint venture a legal entity?
In India Joint venture is recognized as a legal entity under Companies Act, 2013
I have a Joint Venture Agreement; how can I get it reviewed by a Lawyer?
ezyLegal can help you get your Joint Venture Agreement reviewed and provide you with the right legal guidance. You can upload your document and schedule your Consultation with an ezyLegal Lawyer.
What is the process of getting the Agreement drafted from ezyLegal?
ezyLegal offers Standard and Customized Document drafts. If you chose the customized Document option, your call will be scheduled with a Lawyer to whom you can explain your specific requirements. The first draft will be delivered within 2 working days and then you would be allowed 2 iterations to make changes in the draft.
How will the Document be delivered to me?
The Document when ready will be available on the ezyLegal website (www.ezylegal.in) in your secured Account. You will be notified on email and WhatsApp whenever a new version of the Document is uploaded. You can Log-in and View or Download the document. Copy of the documents delivered by ezyLegal will always be available in your ezyLegal account forever.
what is a Joint venture agreement?
The term joint venture is most commonly used to describe an arrangement where two (or more) businesses come together to create a joint venture business. Any kind of collaboration between two companies could be described as a joint venture. After discussing their needs and demands, the companies come to an agreement on the terms of the joint venture. To document these terms, they draft joint venture agreement. This joint venture contract covers topics like their objectives, requirements for individual contribution, commercial commitments and the duration of the joint venture contract.
How do I draft a joint venture agreement for construction?
There are many details that must be included in a joint venture contract, such as the date of commencement, the date it ends and the terms and conditions that the parties are bound by. As this is a very elaborate and complex process, it is recommended to seek professional help for your drafting requirements. With the help of ezyLegal’s team of lawyers, you can get your draft for joint venture agreement for construction done in no time with minimal hassle.
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Vikram Saxena
I was searching online for a Lawyer to draft my Joint Venture Agreement. That’s how I found ezyLegal. The service is prompt and quick. My Agreement needed minor changes here and there. The Lawyer whom I consulted made the changes and I was able to finalize my draft.Mayur Makhani
The service is convenient and easy to follow and access.Prashant Bokade
The consultation happened on time, and the advice given by the lawyer was very good. I would recommend ezyLegal to get your legal documents reviewed.Harsh Verma
The Lawyer heard my requirements patiently. She was soft spoken and explained everything to me regarding the agreement draft that I wanted to finalise before signing.
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