Joint Venture Agreement

A Joint Venture Agreement is a contract between two or more individuals or businesses who would like to undertake a new discrete project, start a new service, or do some other type of specific work together in order to make a profit. A Joint Venture Agreement is more limited than a Partnership Agreement, in that the parties are only working together for one specific activity.

In a Joint Venture Agreement, the parties come together to define the scope of the joint venture and their respective obligations so that everyone is on the same page before the new project, service, or other venture can begin.

The Joint Venture Agreement describes the purpose of the joint venture and sets up everything the parties' need in order to start their business together. Ownership allocations, including profit and loss, are one of the critical points of a Joint Venture Agreement, as is the termination clause.

The document is a critical foundational document for starting a joint venture with another individual or business and will help the parties outline clear communication for their venture together.

How to use this document

This document should be used when two or more parties, whether those parties are individuals are businesses, are looking to enter into a joint venture together. The joint venture can be for any legitimate, lawful purpose. This agreement will include everything the parties need.

This Joint Venture Agreement will allow the parties to enter the following information:

• Joint venture name: the legal name of the new project
• Purpose: a brief description of the purpose of the joint venture
• Party information: the legal names and addresses of the parties involved in the joint venture
• Capital contributions: a description of the cash initially contributed to the joint venture by each party
• Ownership interest: a description of the percent of the joint venture owned by each party
• Profit/Loss distribution: a description of how the profits and losses of the joint venture will be distributed between the parties, often based on capital contributions and/or ownership interest
• Duties: a description of the duties of each of the parties
• Termination: how or when the joint venture will terminate
• Meetings: optional information about the time and structure of meetings
• Transference: boundaries on how interests in the joint venture may be transferred

This Joint Venture Agreement will cover all the ground needed for two or more parties or entities to begin a successful new project.

When this document is completely filled out, it should be signed by all parties and each party should keep a copy. If possible, the original should be kept in the assets of the joint venture itself.

How to modify the template

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.