A Joint Venture is a business undertaking by two or more parties who have a common business goal. Ideally, there will be a carefully drafted Joint Venture Agreement precisely setting out the terms of the Joint Venture.

The Joint Venture Agreement is designed to minimise the risks of a joint venture dispute and to govern how any joint venture dispute should be resolved.

Is there a Joint Venture?

Not all Joint Ventures are encapsulated in a formal written Joint Venture Agreement. Joint Ventures can take place between individuals, sole traders, partnerships (of all descriptions) and companies (of all sizes).

If you are not sure if your working business arrangement is a Joint Venture, it is best to take expert legal advice.

Joint Venture Agreements

If you have a Joint Venture Agreement, our Dispute Resolution Solicitors will start by looking at the terms of your Joint Venture Agreement or contract. You may think that you are in the wrong or in the right but it is worth having the Joint Venture Agreement carefully reviewed by a specialist Commercial Solicitor who will advise you on your options and the potential outcomes.

Why are Joint Venture Disputes Common?

Any business project is bound to have its highs and lows but when you are working with a Joint Venture business partner or partners there are often tensions. These can spiral into disputes and litigation without early Joint Venture legal advice.

Our Business Law and Dispute Resolution Solicitors have substantial expertise in resolving Joint Venture disputes over:

• Allegations of non-compliance with the Joint Venture Agreement. For example, failing to fund the Joint Venture in accordance with the Agreement or allegations that one party has breached the non-disclosure clause or not complied with a separate Non-disclosure Agreement.
• Arguments over use of one party’s IP to progress the Joint Venture or ownership of IP created by the Joint Venture.
• Change occurring that was not contemplated in the original verbal or written Joint Venture Agreement. For example, a requirement for additional funding or one party to the Agreement needing to use their skills and expertise more than the other parties to the Agreement.
• Profit sharing or loss allocation following the success or failure of the Joint Venture Agreement.