Protecting Your New Business Venture With A JV Agreement
Joint venture agreement lawyers help you determine, negotiate and draft the terms of this important document. The joint venture agreement lawyers at Kahane Law Office in Calgary, Alberta will work with you establish the legal working relationships needed for a successful joint venture. We are able to explain, negotiate, draft, and educate with respect to all legal aspects of a JV agreement. The joint venture agreement lawyers at Kahane Law Office in Calgary, Alberta can help you off to a good start with your joint venture. Protect your investment today 403-225-8810.
What Is A Joint Venture?
A joint venture is generally business in nature. It is a situation where two or more individuals or companies (or any combination of individuals and companies) get together to for a business undertaking. A joint venture is not a legal entity on its own. The joint venture cannot own assets or companies on its own. The parties retain their individual status as separate legal entities. They simply plan to work together on one or more specific investments, opportunities or projects. If another opportunity arises in the future, they then simply enter into a new contract for that project.
What Is A Joint Venture Agreement?
People often confuse the agreements with partnership agreements and unanimous shareholder agreements. A joint venture agreement is a document that two or more parties enter into when they start a joint venture. An essential nature of these contracts is that the drafting is clear and concise. Without one, issues often then turn into lawsuits. The joint venture agreement sets out many components of the joint venture. For example, most of these contracts include the following:
- The parties;
- Each parties responsibilities and roles;
- Division of profits;
- Responsibility for costs;
- Joint venture management and decision making; and lastly
- Winding down the joint venture.
The Role Of JV Agreement Lawyers
The joint venture agreement lawyers at Kahane Law Office will work with you to understand, negotiate, draft and sign a binding joint venture agreement. This document is essential to establishing the roles and responsibilities of each party to a joint venture. While individuals often approach our law firm and ask for a “one page” or “simple” agreement of this nature, this is often not possible. In those instances, we ask our clients to read the agreement section by section. We often sit with them at that time to answer questions. However, rarely do our clients ask us to remove the recommended terms of the joint venture agreements once they understand their importance. We will work with your accountant to deal with joint venture tax issues that come up with the CRA.
Problems With Standard Form Agreements
Every business relationship is unique. The idea that every business venture will fit into a standard joint venture agreement or structure is problematic. Our joint venture lawyers will work with you to establish your ventures unique needs and circumstances. With the rise of the availability of internet based documents, there is also the issue with jurisdictional issues. Since the laws often vary in each country (and even Province), and a lack of legal screening of online documents, these contracts often cause more issues than people anticipate.
Finding Joint Venture Agreement Lawyers In Calgary
Entering into this type of contract puts significant rights and obligations on all parties. Everyone must fully understand the nature of these binding contract s before they enter into them. Our corporate lawyers help clients to plan, draft review and provide independent advice before signing. Therefore, to schedule an appointment with one of our joint venture agreement lawyers, please contact our experienced team at Kahane Law Office. CONNECT NOW. We can be reached toll-free at 1-877-225-8817 (or 403-225-8810 locally in Calgary, Alberta), or email us directly here.