Our Commercial Solicitors have a wealth of experience in establishing a shareholder’s agreement which governs the relationship between the shareholders and the directors of a company. Each shareholder’s agreement is general different reflecting the individual arrangements, conditions and possible scenarios that the business may encounter in the day to day business over time.
Our promise to you
Our commercial Lawyers understand the importance of being aligned with our clients expectations. We get back to you the same day, provide competitive pricing, work within your timelines. All we ask in return is that your instruction are clear and contain the necessary detail for us to get the job done.
Joint Venture Agreement
A joint venture agreement sets out the parties’ rights and obligations in relation to a business venture which is established jointly. The Joint Venture outlines the level of contribution made by each party, the nature of the relationship, specific roles of the individuals and specific agreements between the individuals.
Joint Venture Agreements describe the distribution of profits and the structure of liabilities including any capped versus unlimited liabilities.
The most common structures for a joint venture are:
- Unincorporated Joint Venture – where the parties enter into a contractual relationship that explains how profits, risks and liability will be shared;
- Incorporated Joint Venture – where the parties incorporate a new company to operate the venture, and the parties become shareholders in that company;
- Partnership – where the parties are jointly and severally liable to third parties for the acts of the partnership (and this can sometimes be inferred, particularly for unincorporated joint ventures that do not have a joint venture agreement); and
Limited Partnership – a partnership where the liability of at least one of the partners is limited, while the liability of others is unlimited.