ContractsCounsel Logo
Home Blog Understand Joint Venture Agreement

ContractsCounsel has assisted 95 clients with joint venture agreements and maintains a network of 106 business lawyers available daily. These lawyers collectively have 15 reviews to help you choose the best lawyer for your needs.

Joint Venture Agreements: Key Elements You Need To Know

A joint venture agreement is a contract that legally ties two or more parties together to form a single-entity partnership. Because there is a lot at stake with any joint venture, having an iron-clad contract is critical. The following are key elements every joint venture contract should have, according to contract lawyers.

The Contributions of Each Party

Getting a joint venture off the ground means each party needs to contribute something. This can mean start-up capital, services, advising, and more. Explain this within the contract in detail. For example, if each party must contribute capital, exactly how much is each contributing. If one party is offering a service, what is the scope of this service and how often will it be rendered? Word this in a way that removes ambiguity.

Percentage of Ownership and Revenue

It is tempting to say that each party owns equal shares of the business and gets equal parts of the revenue, but a better idea is ensuring that the percentage of ownership and profit reflects what each party is contributing. It is important to look at this in terms of more than capital. Sometimes, offering services and functioning as a consultant can have more authentic value than just investing money into a business.

Operations Responsibilities

With most business ventures, there will be numerous day-today responsibilities that keep the company operational. Your joint venture agreement should outline what these operations responsibilities are and who is in charge of them. In many cases, these will be delegated to employees or outsourced to someone like an accountant. However, even if it isn’t one of the parties of the venture completing the work, your contract should still specify who is.

A Start and End Date

Every contract should specify the date it goes into effect as this determines at what point the parties are being held to the other terms in the agreement. In some cases, an exact end date may also be beneficial. If you see your agreement as open-ended, you could specify a review or renewal date rather than an end.

Restrictions on Branding and Intellectual Property

Because each party has ownership of the venture, they are likely to assume they have the right to use branding elements and intellectual property as they please. However, misuse of these items can negatively impact the joint venture. Clearly outline any restrictions on the use of branding and intellectual property in the joint venture to prevent disagreements and protect the business.

Contingency for One or More Parties Not Meeting Their Duties

When outlining this, consider two distinct possibilities: a party not being able to perform their duties due to something such as an illness, and a party being unable to perform their duties due to their own choice. In the first case, you might want to give the party a chance to recover and make up for their lacking contributions, while in the other, it is best to default to consequences.

Termination of the Contract

Your joint venture agreement may need to end abruptly for any number of reasons, including one or more parties wanting out of the agreement or the failure of the business. Your termination clause needs to specify how this will be handled, including who must cover what expenses and if a party must pay a specific amount to leave the agreement.

Finding Contract Lawyers Near You

Creating a joint venture agreement can be stressful, as you do not want to leave any loopholes in the language you use. Instead of attempting to craft an agreement on your own, turn to ContractsCounsel.com. Through our boutique marketplace, you can receive quotes from vetted attorneys who not only create joint venture agreements but also understand the nuance of your industry. Work with ContractsCounsel.com to get the help you need at a price that works for you.


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


Need help with a Joint Venture Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 11,588 reviews

Meet some of our Lawyers

Brian J R. on ContractsCounsel
View Brian J
5.0 (1)
Member Since:
January 4, 2024

Brian J R.

Managing Partner
Free Consultation
Raleigh NC
38 Yrs Experience
Licensed in CT, DC, NC, NY
Benjamin N Cardoza School of Law

Immigration expert with over 30 years’ experience focused on start-up companies H-1, L-1, E, O-1 visas. PERM and extraordinary ability immigrant visas. Complex family immigration cases and waivers. I also assist early stage comapnies in entity formation and general legal matters for start-up companies in the areas of Telehealth, Technology and International Trade.

Terence B. on ContractsCounsel
View Terence
5.0 (45)
Member Since:
August 23, 2020

Terence B.

Partner
Free Consultation
Orlando, FL and New York, NY
13 Yrs Experience
Licensed in FL, NY
Georgetown University Law Center

Terry Brennan is an experienced corporate, intellectual property and emerging company transactions attorney who has been a partner at two national Wall Street law firms and a trusted corporate counsel. He focuses on providing practical, cost-efficient and creative legal advice to entrepreneurs, established enterprises and investors for business, corporate finance, intellectual property and technology transactions. As a partner at prominent law firms, Terry's work centered around financing, mergers and acquisitions, joint ventures, securities transactions, outsourcing and structuring of business entities to protect, license, finance and commercialize technology, manufacturing, digital media, intellectual property, entertainment and financial assets. As the General Counsel of IBAX Healthcare Systems, Terry was responsible for all legal and related business matters including health information systems licensing agreements, merger and acquisitions, product development and regulatory issues, contract administration, and litigation. Terry is a graduate of the Georgetown University Law Center, where he was an Editor of the law review. He is active in a number of economic development, entrepreneurial accelerators, veterans and civic organizations in Florida and New York.

Diane D. on ContractsCounsel
View Diane
4.9 (8)
Member Since:
August 25, 2020

Diane D.

Attorney
Free Consultation
Central Florida
21 Yrs Experience
Licensed in FL
Nova Southeastern University

I am the Founder and Managing Attorney of DMD Law, PA. and have 20 years' experience. I also am a business-oriented, proactive, and problem-solving corporate lawyer with in-house experience. My firm's practice focuses on ensuring the legalities of commercial transactions and contracts. I am adept at reviewing, drafting, negotiating and generally overseeing policies, procedures, handbooks, corporate documents, and contracts. I have a proven track record of leading domestic and international companies by ensuring they are functioning in complete compliance with local, federal and international law. The firm's goal is to simplify the law and provide clients with the confidence and information necessary to make their decisions.

Jeffrey K. on ContractsCounsel
View Jeffrey
5.0 (1)
Member Since:
January 11, 2023

Jeffrey K.

Attorney
Free Consultation
Toledo, Ohio
28 Yrs Experience
Licensed in OH
Chicago-Kent College of Law

I've been a Real Estate attorney for over 25 years. I handle real estate transactions, commercial collections, foreclosures, replevins, landlord tenant issues and small business matter.

Patrick N. on ContractsCounsel
View Patrick
5.0 (4)
Member Since:
January 18, 2023

Patrick N.

Attorney at Law
Free Consultation
Massachusetts
7 Yrs Experience
Licensed in MA
Suffolk University Law School

Before attending law school, I had a prior career in business performance reporting. This experience differentiates me from other attorneys. I can readily read, interpret, and synthesize financial reporting. I also have a passion for legal research and writing.

Christopher N. on ContractsCounsel
View Christopher
Member Since:
January 11, 2023

Christopher N.

Managing Partner
Free Consultation
Philadelphia
26 Yrs Experience
Licensed in PA
Widener University Commonwealth School of Law

Christopher Nuneviller has practiced in the securities, venture capital, corporate and emerging business sectors, and as a contract-advisor to the federal government, a federal government senior level executive, and as Army Judge Advocate. Like you, he also he is a partner in other business ventures and faces the same pressure to succeed, be profitable, and stay sane, all while making his clients, employees, family and business partners happy. As the managing partner for Philadelphia's MNB Meridian Law, Ltd., his focus is on assisting small and mid-sized businesses grow and thrive. As a business generalist, Christopher provides advice and counsel to businesses, their owners, investors and shareholders on matters ranging from formation, organization, governance, routine and special operations, and growth toward IPO. Christopher is also a former U.S. Army Judge Advocate having served seven years in Washington, D.C. where he gained significant experience with "above the fold" matters of great import and an unhealthy insight into the internal workings of the "beltway" underbelly. Mr. Nuneviller is admitted to practice in the Commonwealth of Pennsylvania, and before the Supreme Court of the United States, the Court of Federal Claims, and the Court of Appeals for the Armed Forces.

Find the best lawyer for your project

Browse Lawyers Now

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Need help with a Joint Venture Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 11,588 reviews
CONTRACT LAWYERS BY TOP CITIES
See All Business Lawyers

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

Need help with a Joint Venture Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 11,588 reviews

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