Texas Joint Venture Agreement Form

Texas Joint Venture Agreement Form

A separate legal person may be a limited liability company or a limited liability company. Technically, limited partnerships are not legal entities, although I have thought about this in the same way as an LLC or a single corporation – they are incorporated by registration with the state and require separate tax returns and they can sign contracts in the same way as an LLC or a single entity. All these types of business structures are more involved than establishing a contract. Another important thing to think about is how the members of the joint venture would deal with ownership of the JV unit as soon as the JV dissolved. Will the company fade in the same way if each participant takes control of their own brands or intellectual property that has been integrated into the company? Or can it be sold (or listed on the stock exchange) as a full-fledged company? If the JV develops and owns its own assets, such as intellectual property or even customer lists, you should decide in advance who will do them as soon as the parties follow their separate paths. Other reasons why companies can establish a joint venture relationship could be to have access to larger markets, share resources, finance the growth of another company, develop or diversify products. When a company is employed, joint ventures file a deed of incorporation, statute or similar document to form the unit. They will prepare articles of association, decisions and, in general, a shareholders` agreement that will determine matters relating to decision-making and voting. They will decide other questions, such as, for example, what will happen when they argue, and how will they do the JV later, when the time is right (very few JVs will exist forever)? Other joint ventures are documented by contracts and look very much like service contracts, that is, not as much as a joint venture. I had clients who wanted to keep things very simple and streamlined and accept a common service contract of seven or eight pages.

The difference between a joint venture documented by a simple common service contract and any other service agreement you`ll see there is the intent of the relationship. If I order an accountant to audit my business and sign a service contract for them to perform the work, the accountant is one of my salespeople. When I ask an accountant to create a series of seminars together for business owners, we are essentially partners (see my remark on what exactly this word “partner” means). That is the difference. Commanders can be any entity, including another limited partnership. But they should definitely be entities, not individuals…

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