The Internet of Things (IoT): Helpful or Harmful?
Louise Hayward | 18.09.2019
A joint venture can help you make your innovative business idea a reality, access new markets and resources, increase capacity and share risks. It can be highly flexible, lasting long-term or just for the life of a specific project. Yet it can also have several traps for the unwary.
If you’re considering a joint venture, you need to choose your partner carefully. Whilst you’re looking for fresh input, you need their approach to complement yours. You need to have the same objectives, closely-matched management and business cultures, and clearly defined commitments to the joint venture. Otherwise the relationship and the venture itself can quickly fail.
There are various types of joint venture and it’s important you have expert legal advice on what’s appropriate for you. Drawing on our experience, we will tell you the best legal structure for your circumstances; for example, a business partnership, setting up a separate joint venture business or a simpler limited co-operation agreement.
We can also guide you through the due diligence checks needed when choosing a partner and how to protect your own business interests, such as intellectual property rights. When you ask us to draft an agreement, we’ll ensure it covers all the aspects required, such as:
All of these aspects must be considered, yet sometimes details are overlooked in the initial enthusiasm for the venture. Our attention to detail means you can have confidence in your agreement and in your venture’s prospects for success.
If you’re already part of a joint venture and things have gone wrong, we can help find a resolution with the minimum of fuss and disruption.