Open Exhibitions Ltd
David Edwards Managing Director
Advanced Construction Technologies UK Ltd
A C Benfield Chairman
Joint Ventures, Partnerships or Shareholder Agreements
Normally two or more parties wishing to carry out a joint commercial enterprise. The structure may vary from setting up a joint venture company or limited liability partnership through to a less formal structure where the joint venture is simply created via the contract (the latter being much the same as a collaboration agreement).
Why is it important?
It is important that the joint venture is defined/described and the parties’ roles set out clearly. Joint ventures can often be complicated so it is important that the partners’/shareholders’ rights and obligations are documented.
How will Claric Legal help
Claric recently advised on a joint venture between several parties which involved:
- incorporating a joint venture company (newco);
- sale of a business to the newco;
- licensing of IP to newco;
- investment and loans from joint venture partners to newco.
In addition to advising on the structure, Claric drafted all the legal documents required to protect the relevant parties.