ContractsCounsel Logo

Joint Venture Agreement Cost

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 7,608 reviews
Home Blog Joint Venture Agreement Cost

Jump to Section

What does a joint venture agreement cost? This is a question that two parties may ask when working together to achieve a common goal. So let’s explore this question and review some general information about joint venture agreements.

How Much Does a Joint Venture Agreement Cost?

A joint venture agreement sometimes referred to as a JV agreement, is a contract executed by two parties who have decided that they would like to work together. The contract typically outlines the relationship these parties will have while combining resources to achieve a common goal.

Each party will have specific roles and responsibilities and be expected to contribute to the workload. In exchange, there will be proportionately split profits and distributed ventures. It is important to note that while the entities will share all responsibilities associated with the joint venture, the joint venture is separate from the party’s other businesses.

It is common to confuse joint venture agreements with business partnership agreements. However, these legal documents are not the same. While a partnership agreement is used for a long-term, ongoing relationship, a joint venture agreement is used for a specific period or activity.

A successful and well-written joint venture requires a good working relationship between the parties. Therefore, it is common practice for the parties entering the joint venture to hire an attorney to draft the joint venture agreement.

Based on ContractsCounsel’s marketplace data, the average cost of a project involving a joint venture agreement is $1090.00.

What’s Typically Included in a Joint Venture Agreement?

Joint venture agreements must include specific provisions to be legally binding and protect the rights of both parties throughout the business relationship. The joint venture agreement serves as the blueprint for how the businesses will work together, run the joint venture, and each entity’s roles and responsibilities.

It is common to find the following information in a joint venture agreement:

  • Names and addresses of both parties entering the agreement
  • The type of joint venture being created
  • The joint venture structure and management plans
  • The percentage each party owns
  • The roles and responsibilities of each party
  • How profits and losses are allocated between parties
  • Voting privileges
  • Meeting requirements
  • Termination terms
  • Confidentiality provisions

It is essential to consult with a business attorney to ensure that your joint venture agreement has the necessary provisions. Depending on the type of business or the state in which you are forming the business, additional clauses and information may be required.

An experienced contract lawyer familiar with joint venture agreements will guide you through the agreement process and ensure your contract is complete and legally binding.

While the list referenced above is a great start, you may need to include other provisions within your agreement. For example, business lawyers can learn more about your business relationship and draft a joint venture agreement that satisfies both party’s needs. This strategy will ensure you avoid making legal mistakes that haunt you in the future.

Types of Joint Venture Agreements

The two types of joint venture agreements are contractual joint venture agreements and separate legal entity joint venture agreements.

A contractual joint venture agreement is when two entities choose to enter a joint venture together. They will use only a written contract to establish the joint venture and lay out how it will be managed and run.

The other option is a separate legal entity joint venture. For example, some companies form an independent LLC or corporation for their joint venture. The new business would be subject to any laws or provisions that apply to LLCs or corporations in the state in which the joint venture is established.

Regardless of which type of joint venture is established, a clear and detailed joint venture agreement is vital for the business's success.

Examples of Joint Venture Agreement Projects

Joint Venture Agreement Drafting Service

Many joint venture partners will hire a lawyer who offers contract drafting services to create a joint venture agreement. While hiring an attorney will incur legal fees, most business owners find that the drafting services are well worth it. A correctly drafted contract is vital for success.

The drafting of a joint venture agreement usually begins with a consultation with the two business owners to learn about the individual businesses, the joint venture, and the terms they want to include in the agreement.

The attorney will then implement those terms into a joint venture agreement template to include everything the businesses need. Joint venture agreement costs will vary based on how many custom terms must be included in the document.

Joint Venture Agreement Review Service

Review services are another service that many contract lawyers offer that can benefit business owners looking to enter a joint venture. Common reasons for hiring a lawyer for review services include:

  • One partner wants the contract reviewed by their own lawyer to ensure it is fair
  • An already established joint venture agreement needs to be updated with new terms
  • There was a significant change in the joint venture structure

Review services will also incur legal fees, and the cost of fees will heavily depend on the length and complexity of the agreement.

Meet some lawyers on our platform

Sara S.

44 projects on CC
View Profile

Zachary J.

191 projects on CC
View Profile

Janice K.

1 project on CC
View Profile

Ryenne S.

439 projects on CC
View Profile

Drafting Costs for Joint Venture Agreements

ContractsCounsel’s marketplace data shows the average joint venture agreement drafting costs to be $940.00 across all states and industries.

Review Costs for Joint Venture Agreements

ContractsCounsel’s marketplace data shows the average joint venture agreement review costs to be $1270.00 across all states and industries.

How Do Joint Venture Agreement Lawyers Charge?

Contract lawyers can charge for legal services in several ways. The two most common fee structures are hourly rates and flat-fee rates.

Hourly Rates for Joint Venture Agreements

Hourly rate fee structures are commonly used and usually preferred among lawyers. The lawyer will charge the client a set rate for each hour spent working on a case or project when using an hourly rate.

Clients will typically receive an invoice for the total legal costs after the task for shorter projects. However, clients will most likely be expected to pay monthly for ongoing legal representation or long-term projects.

ContractsCounsel’s marketplace data shows the average hourly rate for a contract lawyer ranges from $250 - $400 per hour.

Flat Fee Rates for Joint Venture Agreements

Many lawyers who offer document drafting and review services choose to use a flat rate fee rather than charging clients hourly. Instead, the lawyer will quote the client a set rate for the entire job.

Clients benefit from knowing the total cost of legal services before hiring an attorney. In exchange, the lawyer will usually require the payment upfront, so they know they will be compensated for the project.

ContractsCounsel’s marketplace data shows the average flat fee rate for a joint venture agreement is $1090.00.

Get Help with a Joint Venture Agreement

Do you need help with a joint venture agreement project? If so, post a project in ContractsCounsel’s marketplace to receive flat fee bids from business lawyers to handle your project. All lawyers on the ContractsCounsel’s platform are vetted by our team to make sure you are provided with top tier service.

Meet some of our Lawyers

Ralph S. on ContractsCounsel
View Ralph
5.0 (4)
Member Since:
October 31, 2021

Ralph S.

Free Consultation
Gainesville FL
12 Yrs Experience
Licensed in DC, FL, MA
University of Florida Levin College of Law

Ralph graduated from University of Florida with his JD as well as an LLM in Comparative Law. He has a Master's in Law from Warsaw University , Poland (summa cum laude) and holds a diploma in English and European Law from Cambridge Board of Continuous Education. Ralph concentrates on business entity formation, both for profit and non profit and was trained in legal drafting. In his practice he primarily assists small to medium sized startups and writes tailor made contracts as he runs one of Florida disability non profits at the same time. T l Licensed. in Florida Massachusetts and Washington DC this attorney speaks Polish.

Rudy C. on ContractsCounsel
View Rudy
Member Since:
July 19, 2023

Rudy C.

Free Consultation
New York
1 Yr Experience
Licensed in NY
St-John's Law School

As a multilingual attorney, Rudy Cohen-Zardi holds multiple degrees from several institutions worldwide. He has gained experience in leading firms, including Eversheds Sutherland, LLP and Bank of China (NY). He is licensed to practice in New York. His practice focuses on bankruptcy, corporate, and contracts law.

Rhea J. on ContractsCounsel
View Rhea
Member Since:
July 21, 2023

Rhea J.

Attorney at Law
Free Consultation
Evansville, IN
9 Yrs Experience
Licensed in IN
University of Illinois at Urbana-Champaign

I am a graduate from Wittenberg University and University of Illinois at Urbana-Champaign. I have been admitted to the Indiana bar since 2013. I have collaborated on several writing projects for the Indiana State Bar.

Mark P. on ContractsCounsel
View Mark
Member Since:
July 21, 2023

Mark P.

Free Consultation
Lee's Summit, Missouri
8 Yrs Experience
Licensed in KS, MO, NE
University of Missouri - Kansas City

I represent a diverse mix in a vast array of specialties, including litigation, contracts, compliance, business and financial strategies, and emerging industries. Credit for this foundation of strength goes to those who taught me. Skilled professors and professionals fostered my powerful educational and professional background. Prior to law school, I earned dual Bachelor’s degrees in Business Administration & Accounting from Peru State College. I received a Master of Business Administration degree from Chadron State College. My ambitions did not stop there. While working full time as a Senior Accountant for the University of Missouri, Columbia, I achieved the lifelong goal of becoming a licensed Certified Public Accountant (CPA). Mizzo provided excellent opportunities and amazing experiences. Managing over $50M in government and private research funding was a gift. As a high ranking professional in the Department of Research, I was given priceless insight into the greatest scientific, journalistic, medical, and legal minds in the world. My passion for successful growth did not, and has not stopped. I graduated summa cum laude (top 3%) with a Doctorate in Law, emphasizing in urban, land use and environmental/toxic tort law from the University of Missouri, Kansas City. This success lead to invaluable experiences of serving as Hon. Brian C. Wimes' judicial clerk for the U.S. District Court for the W. D. of Missouri, as a staff editor/writer for UMKC Law Review, and as a litigation and transactional attorney with Lathrop GPM (fka Lathrop & Gage). My professional and personal network is expansive, with established relationships throughout the U.S. and overseas. Although I engage in legal practice all over the country, I maintain law licenses in Missouri, Kansas, and Nebraska. Federally, I hold licenses in the W.D. and E.D. of Missouri and the District of Nebraska. To offer extra value, efficiency, and options, I maintain a CPA license and am obtaining a real-estate brokerage license.

Karen H. on ContractsCounsel
View Karen
Member Since:
July 23, 2023

Karen H.

Former Division General Counsel
Free Consultation
42 Yrs Experience
Licensed in IL
Loyola University Chicago School of Law

During my tenure as VP & Division General Counsel of PepsiCo Inc. in Chicago, I built upon my diverse career overseeing legal matters for both the domestic and international businesses of PepsiCo and The Quaker Oats Co. My extensive practice areas included M&A, contracts, competition, NDAs, regulatory compliance, consumer product & protection, environmental, patents, and advertising regulations. Throughout my professional journey, I navigated legal complexities associated with an eclectic range of products, spanning juices, sports drinks, cereals, snacks, needlepoint kits, canned goods, eyeglasses, men's suits, car seats and toys. For further information, see my LinkedIn:

Find the best lawyer for your project

Browse Lawyers Now
Learn About Contracts
See More Contracts
other helpful articles

Need help with a Joint Venture Agreement?

Create a free project posting

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city