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With more than 50 years of experience under our belt, we are perfectly equipped to negotiate the best possible terms of a joint venture agreement and manage its implementation. We take the time to explain the implications of the joint venture agreement to you in simple terms, without confusing legal jargon so that you can make informed decisions about your business. Our experts can also help you exit a joint venture as peacefully and as effortlessly as possible.

Involved in a joint venture dispute? Witan Solicitors has a proven track record of achieving swift resolution for our commercial clients, regardless of the complexity of the case. Having successfully represented high-profile business clients in the past, we are a trusted legal advisor in the corporate law sector.

To get legal advice on a joint venture agreement, contact the Witan Solicitors team via email at info@witansolicitors.co.uk to arrange an initial no-obligation consultation with one of our experts in London, Birmingham or Northampton. 

What is a Joint Venture Agreement?

A joint venture occurs when two or more parties combine their expertise and resources to create a shared business. All partners in a joint venture share the profits, as well as the risks involved.  Generally, the agreement will set out the terms and scope of the joint venture, including:

• The length of the collaboration
• The services and products that will be produced
• The financial contributions of each party
• Any confidentiality obligations

Without an agreement in place, this creates a lot of uncertainty for both parties. This may lead to disputes and potential litigation, which can result in hefty legal expenses. Not to mention, project delays can damage the reputation of both parties. That is why it is important to have a document that both parties can refer to, helping them protect their interests and avoid legal costs.

What Types of Joint Ventures Are There?

A joint venture can take many shapes and forms. The most popular joint venture types include contractual joint ventures between existing entities (Collaboration Agreements, Partnership and Limited Liability Partnership (LLP) and formal joint ventures where a new business is created especially for the joint venture (SPV or Special Purpose Vehicle).

Essential Considerations

Our joint venture agreement solicitors excel at drafting agreements that ensure that our clients benefit commercially from their business ventures. Generally, we look at the following areas when drafting agreements:

• The parties involved in the joint venture
• How clearly the objectives have been defined
• Any tax considerations and liability issues that may arise due to the structure of the agreement
• Any due diligence that has been undertaken
• Whether the ownership of intellectual property has been agreed and recorded
• Any confidentiality clauses and penalties for breaching the agreement
• The rights of parties based on their contributions
• The financial contributions of parties and how profit sharing will be calculated
• The duration of the joint venture
• The provisions for termination of the agreement or exit
• Whether there are dispute resolution provisions in place, as well as remedies for breaches
• Whether the agreement can be varied if the scope of the joint venture changes

How We Can help

If you are planning to enter a joint business venture, the joint venture agreement is a key document that you need to prepare in order to regulate the commercial arrangements between yourself and any other parties involved. With Witan Solicitors by your side, you can rest assured that your best interests are taken care of and that you are getting the most of your joint venture agreement. 

If you wish to enter a joint venture agreement, our legal team will ensure that:

• The joint venture agreement is fair and legally binding 
• You are protected against litigation in the future 
• There are no compliance issues (data protection, TUPE, consent, competition law, etc) 
• Your intellectual property rights are protected 
• You can exit the joint venture easily if you wish to do so

If you are facing a joint venture agreement dispute, our specialist commercial dispute resolution and litigation lawyers can advise you on the best course of action. We work to achieve swift resolution of any dispute while always putting your interests first. 

If you are planning to exit a joint venture agreement, speak to one of our solicitors in London, Northampton and Birmingham to make certain that you are protected from litigation and that the process goes as smoothly as possible. 

Our Expertise

With a proven track record of drafting successful joint venture agreements, you will have peace of mind that your agreement covers a range of scenarios and protects your best interests. With us, you benefit from:

Fair Agreements

We will make sure that your agreement includes the necessary provisions to achieve your objectives. Not to mention, we will ensure that the terms are fair based on each party’s contributions to prevent any disputes.

Reduced Costs

With a clear agreement in place, this will reduce uncertainties and remove the risk of disputes arising. This in turn will reduce the costs involved with mediation and litigation.

Complete Compliance

Our joint venture agreements do more than just cover the venture itself. We will cover all the bases and help you figure out the finer details, such as:

• Tax issues
• Competition law
• GDPR
• TUPE
• License requirements

Protection of Valuable IP Assets

Whether you are using intellectual property that already exists or developing new assets as part of the collaboration, our specialists will ensure that clear terms of ownership are set out.

Smooth Exists

We will cover the entire lifecycle of the joint venture, setting out clear exit terms so that you can end the relationship smoothly and do not have to worry about ownership of technology or rights to shares.

Who We Help

Whether you own a start-up or a well-established business, our legal expertise will ensure that your joint venture is a success. Our commercial experts will help you take your business to the next level at an affordable price.

Why Choose Witan Solicitors?

Our extensive experience in corporate and business law combined with our commercially focused approach makes us one of the most trusted joint venture agreement solicitors in the UK. Established in 1986, Witan Solicitors is a well-respected name in the legal profession and we offer our clients all of the benefits below. 

• 100+ years of experience in the team
• Comprehensive, jargon-free legal advice
• Understanding of commercial goals and values 
• Proven track record of working with high-profile commercial clients 
• Joint venture agreement solicitors in Birmingham, London and Northampton

FAQ

What is a joint venture agreement?

A joint venture occurs when two or more parties combine their expertise and resources to create a shared business. All partners in a joint venture share the profits, as well as the risks involved.

If I have a joint venture agreement, do I also need a shareholders’ agreement?

Yes, having a shareholders’ agreement in place protects you from legal conflict over issues related to the company management, share ownership and IP rights, as well as many other disputes between shareholders in a joint venture.

Is a joint venture agreement legally binding?

Yes, a joint venture agreement is a legally binding contract so it is extremely important to get specialist legal advice from a solicitor to ensure that your best interests are taken care of before signing.

How do I exit a joint venture agreement?

The terms of your exit strategy should be clearly defined in the joint venture agreement. They should cover topics such as whether the joint venture is indefinite or not, who owns the rights of IP property created by the joint venture, whether you can transfer ownership of your shares and whether you can exit a joint venture early.

Who can enter into a joint venture?

Generally, any individual, company or LLP can enter into a joint venture. However, it is worth noting that in some sectors, there may be specific criteria about the identity of participants.

Why enter into a joint venture?

The main purpose of a joint venture is to help parties achieve a goal that they would not have been able to achieve without collaborating. Common goals include:

• Entering a new market
• Accessing distribution networks
• Increasing capacity 

Plus, these partnerships can increase productivity and profits for both parties.

How can you structure a joint venture?

There are four basic ways to structure a joint venture:

• Limited Liability Company – This refers to a business entity that prevents partners or shareholders from being liable for the company’s debts or financial losses
• Limited Liability Partnership (LLP) – This structure means that each party’s liabilities are limited to their contributions to the partnership
• Partnership (or limited partnership) – In this structure, partners agree to share in the profits, losses and assets of the company
• Contractual Cooperation Agreement – This agreement outlines how much each party owns of the business arrangement and how profits will be distributed

Do joint ventures require a written agreement?

Although there is no legal requirement for parties to enter into a formal agreement, it is advisable to 

have a joint venture agreement. After all, this will set out clear terms and reduce the risk of disputes later down the line.

When should parties in a joint venture enter into a written joint venture agreement?

Ideally, participants should enter into a written agreement from the outset. This will ensure that each party understands their rights, responsibilities and obligations.