Joint ventures provide businesses an opportunity to form short term partnerships for a single purpose. A benefit of forming a joint venture is that it allows companies to share expertise and relationships with other companies in order to develop new products, services or enter new markets to the benefit of both parties.

This Joint Venture Agreement effectively sets forth the arrangement between these joint venture partners. It sets out the specific terms of the agreement including the name of the joint venture, the businesses the parties are engaged in and the specific purpose of the joint venture. It also sets out the contribution each party will make, how profits will be divided and the management structure of the joint venture. It is crucial that this type of business arrangement be set out in writing rather than left to oral interpretation. A well-written Joint Venture Agreement will prove invaluable in the event of disagreements, misunderstandings or litigation between the parties.

This Joint Venture Agreement includes the following provisions:

• Parties: Specifies the names of the parties to the agreement and the businesses in which they are presently engaged;
• Purpose: Sets out a brief description of the purpose of the joint venture;
• Formation/Purpose: Name and address under which the joint venture will operate and a detailed description of the business;
• Contributions: Sets out the specific financial contribution of the joint venturers;
• Distribution of Profits: Sets out the proportion of profits to be received by both parties;
• Management: The management structure of the business including how managers are appointed and fees paid to the managers;
• Term: Sets out the initial term of the agreement and the length of any renewal terms;
• Signatures: Both parties must sign the agreement.

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This attorney-prepared packet contains:

1. General Instructions
2. Information
3. Step-by-Step Instructions
4. Joint Venture Agreement

State Law Compliance: This form complies with the laws of all states