If you are one of those entrepreneurs or business owner who discover and built your business together with your close friends or siblings or any business partner, then you have clearly agreed to have a joint venture. On the other hand, if you are planning to have a joint venture with some people you trust and you know, then now is the perfect time!
A joint venture is a form of business or commercial structure that is joint by two or more parties. Before actually having to legalize and open your joint venture, there are some specific types that you have to consider learning about. These Sample Agreements might be useful to you.
Contractual Joint Venture Agreement
Joint Venture Partnership Agreement
Sample Deed of Joint Venture Agreement
Joint Venture Development Agreement
Apartment Joint Venture Agreement
Before jumping in and running your joint venture with your partners, you must first learn that there are also specified types of a joint venture business that might be helpful and in narrowing down your choices. Also, you might as well check out Construction Management Agreements and Confidential Disclosure Agreements that will be useful for future references.
Types of Joint Venture
- Limited Cooperation with Another Business – according to Business Info, this type of joint venture is agreeing to cooperate with another and completely separated business in a specific and limited way. The two partners could work together by setting up some ground rules or terms and conditions and having a particular agreement that is bounded by law.
- Separate Joint Venture Business – this is another type of a joint venture wherein you can have the option to set up a separate join venture business for specific purposes, which can be a very flexible option. Each business partner would have their own respective shares.
- Business Partnerships – this is forming a company with your business partners. It typically consists of two or more business owners. Other than that, if one of your business partners already has a company, he or she can also merge it with the joint business venture.
Joint Venture Loan Agreement Example
Business Joint Venture Agreement in PDF
Model Joint Venture Agreement Format
Non-Profit Joint Venture Agreement
Joint Venture Operating Agreement
Property Joint Venture Agreement
Now that you have at least some insights about the different types of joint ventures, it is time to unravel its risks as well as its benefits.
Just like almost anything, it is undeniable and completely understandable to have pros and cons to everything. What we can do is to calculate the risk, and do what we can to achieve our goals.
Joint Venture Benefits
- Grows faster
- Increase productivity and output
- Combined costs and risks, shared with partners
- Doubled or tripled access to networks and markets
- Less likely to look outside for investors and capital
- Minimal external debt or loan for capital
- Flexibility and versatility
Joint Venture Risks
- Some business partners may or may not provide sufficient effort or time to look after for the business on its initial stages.
- Poor integration is a huge probability caused by having different cultures and having different management styles.
- The partners may have different objectives for the joint venture business.
- The objectives, mission, and vision of the joint venture business may not have been communicated clearly to everyone who is involved and can cause confusions, which can possibly lead to messy, unavoidable arguments.
Moreover, you can also have a look at this page’s Profit Sharing Agreements that you might find useful and helpful toward your entrepreneurial journey leading to growth and success.
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