Joint Venture Agreements in New Jersey

Joint Venture Agreements in New Jersey: Ruiz Doolan Law Firm Business Lawyers.

Getting into Business with a Friend? You may need a Joint Venture Agreement.

I) What is a Joint Venture Agreement?

A joint venture agreement is a contract made between two or more individuals or companies to be in a joint venture.  People who create a joint venture agreement want to collaborate on a project while remaining independent. For example: Company A and Company B want to enter in a joint venture agreement for the specific purpose of building houses.

II) Consideration and Planning for A Joint Venture Agreement:

When planning to enter a joint venture agreement there are a few factors to consider:

1) The Form of the Joint Venture: Will the joint venture be in the form of a partnership, LLC. or a contract between companies.

2) Scope of Business

3) Ownership and Control

4) Dissolution

5) Assets

6) Governance

7) Management

8) Budgets

9) Disputes

10) Taxes

11) Financing

12) Breaches

13) Debt

14) Transfers

Without a properly drafted joint venture agreement the parties can be severely under-protected both as to their rights  and as to their asset protection

For more information about Joint Venture Agreements in New Jersey call Ruiz Doolan Law Firm at (201) 880-5563. Mention this blog for a free initial consultation.

 

2 Thoughts on “Joint Venture Agreements in New Jersey

  1. Except as otherwise may be required by the provisions of the New Jersey Casino Control Act, neither Venturer shall be liable for damages or otherwise to the Joint Venture or the other Venturer for any act or omission performed or omitted by it in good faith on behalf of the Joint Venture and in a manner reasonably believed by it to be within the scope of the authority granted to it by this Agreement and in the best interests of the Joint Venture if it shall not have been guilty of gross negligence, bad faith or willful misconduct with respect to such acts or omissions.

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