Create Legal Colorado Joint Venture Agreements Forms For Free

A Joint Venture (JV) Agreement is a contract between at least two business entities or individuals entering into a temporary business relationship. By joining forces, the parties hope to achieve a mutual goal.

Joint Venture Agreement Information The duties and obligations of each party. Financial contributions, services, and other dedicated resources. The purpose of the venture. Business management and operations. The process for dissolution.

It is highly recommended, however, that a complete written agreement is created to avoid confusion and dispute at a later time. See our article on Oral or Written Contracts. The agreement entered into between the parties must evidence the intent of the parties to enter into a joint venture.

The Elements of the Agreement The date of the establishment of your agreement. The parties involved in the venture. The business name of the joint venture. A description of the project the venture is purposed for. Financing and accounting details. How profits and losses will be shared.

If your joint venture is simply two or more companies working together toward a common goal without forming a new entity, you will need a detailed contract spelling out the role of each party, contributions, decision-making power, the right to revenue distributions, and many other details.

Once it's signed, much like any other contract, the parties are bound to abide by it. Joining forces with another company as part of a joint venture is only part of the process of getting operations underway.