Joint project agreement

About this document

A joint venture is a business relationship where two parties pool their skills and resources for a common goal or business. Of course the businesses agree to share associated profits and risks too. There is a host of reasons for entering into a joint venture, for example: to expand the businesses, to make better use of technical expertise, to develop new products or exploit new markets.

The document has been drawn for use between individuals or partnerships, not companies. 

As drawn, each party is liable on its own share of profit and gets the direct benefit of any tax reliefs. This agreement ensures independence and simplicity.

Application and features

• Very flexible to suit various circumstances and address all eventualities;
• Suitable whether you provide goods or services;
• Ready for adaptation to particular needs of either or both parties;
• Suitable for both small and large ventures, whether locally or internationally;
• Comprehensive provisions; no short cuts;
• Drawn in plain and simple English;
• Complete with explanatory notes.

Contents

• Purpose of the joint venture;
• Percentage of participation;
• Duration and termination;
• Delegation of authority;
• Bank Accounts;
• Accounts: maintenance and audit;
• Dispute resolution;
• Confidentiality;
• Termination;
• Appropriate legal provisions such as warranties, exclusions, indemnities and more;
• Other provisions to protect your interests;
• Explanatory guidance notes.