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Joint venture agreements

Joint ventures offer exporters a number of benefits. This includes providing cash to penetrate a new market, marketing resources, in-market manufacturing capability, technology and know-how.

Joint ventures can prove to be very useful strategic relationships, providing exporters check the credentials of their partner and the relationship has the right ingredients to be solid and enduring.

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When drawing up a joint venture agreement, the issues to be considered include:

  • Contribution of joint venture partners – what each partner will contribute, when and what they will receive in return
  • Business of the joint venture – define the scope and specify prohibited activities
  • Self dealing – consider the impact of all other relationships each joint venture partner has with the joint venture
  • Theft of joint venture opportunity – no joint venture partner should steal a business opportunity properly belonging to the joint venture
  • Territory – specify any territorial limitations
  • Funding – create a business plan including a budget and cash flow statement
  • Management – establish a management structure
  • Profit distribution – specify the dividend policy
  • Selling out – set a procedure for withdrawing from the joint venture
  • Dispute resolution

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