A Joint Venture Agreement is used when two or more business entities or individuals enter into a temporary business relationship (joint venture) for the purpose of achieving a mutual goal.
Collaborating with other business owners can be a great way to expand one's brand, but it also comes with a lot of risks as well.
This agreement includes the following provisions to ensure the maximum protection for your brand:
- Clearly defined purpose for the joint venture
- Start and end date of the project
- Financial contributions of each business entity and/or individuals
- Method of repayment for the financial contributions of each business entity and/or individuals
- Duties and obligations of contributors
- How the joint venture will be dissolved prior to the end date and
- Non-compete, confidentiality, and dispute resolution clauses