Joint Ventures

Often a joint venture is formed when two established businesses see an opportunity to profit from a collaboration between them to pursue a single business opportunity. In these situations the two businesses do not desire a permanent merger in which one or both of the businesses loses it’s separate business identity. Instead, they prefer to retain their autonomy and collaborate by forming a new jointly owned business organization through which the opportunity is pursued. A joint venture is an agreement between two or more business entities or individuals to engage in a profit making endeavor. A joint venture often has a limited life since it is designed to pursue a single business deal or project. Two competitor corporations, such as electrical contractors bidding on a large construction project, might enter into a joint venture in order to share the work, spread risk and to raise additional capital. A joint venture can be carried on as a general partnership, but can also be embodied in a corporation, limited liability company or some other business entity. Attorney Rubino is experienced in all form of business organizations and in negotiating agreements between businesses and can help your business negotiate an advantageous joint venture agreement.