Meaning of a Joint Venture
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6 December 2009
The meaning of a Joint Venture ( JV)
There is no meaning in English law for a JV. While their
importance has become more important as business has evolved we cannot turn to
one single definition and claim that this fits easily in the JV hole.This means
that where two entities which to do business together the form and type of JV
will differ and much will depend on the advantages and disadvantages of a
particular operation. In particular whether the JV will tick all the technical,
legal, accounting, and operational and commercial requirements of both parties.
The following are usual vehicles for the venture. 1) A limited
liability company. 2) A partnership. 3) A Limited Liability partnership and
finally a relationship based on a contract. What vehicle to choose will be
dependant on the commercial objectives. We do suggest you meet the other parties
prior to instructing Lawyers and work out a plan.
Michael Coyle is a Solicitor Advocate and can be
contacted at firstname.lastname@example.org.
About the Author
Lawdit Solicitors offer services and
advice for litigation, commercial contracts, Intellectual Property and IT legal
agreements. We are experts in commercial law with a heavy emphasis on
Intellectual Property, Internet and e-commerce law. Lawdit is a member of the
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Article Published/Sorted/Amended on Scopulus 2009-12-08 18:05:18 in Legal Articles