An Introduction to Legal Forms of Joint Venture
- Price: £3.60
- Published: September 2015
- Type: Business Information Factsheet
- Format: PDF
Joint venture arrangements, where separate firms come together to achieve mutual goals, can be extremely effective, particularly for small enterprises hoping to succeed in a competitive marketplace.
Joint ventures enable firms to pool their resources, skills, expertise or finance to achieve results that would have been difficult to achieve individually. They can be long-term arrangements (when developing a new product, for example), or much shorter arrangements made when entering a new market. Small firms can team up with partners that have complementary skills or specialist knowledge to help exploit new opportunities or undertake fresh challenges.
This factsheet explains what a joint venture is. It outlines the benefits of entering into a joint venture and describes different types of agreements as well as the legal framework that surrounds this type of agreement. It also provides some useful tips on how to manage the relationship and how to avoid common pitfalls.