Joint Venture Agreement

Joint Venture Agreement

When a group of entities/individuals come together to work on a particular venture but want to keep their individual identities intact is when they enter into a Joint Venture Agreement. It binds the said companies/individuals legally, while laying out clear rules regarding co-operation, division, profit-sharing, etc. However, according to the general norm, the said parties enter a Memorandum of Understanding before signing a Joint Venture Agreement.