A collective beginning of a new business or company by pulling in resources from individual companies involved is called a joint venture Agreement.
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India being a country with one of the highest populations on planet, has a massive range of businesses and industries to deal with. The categorisations vary from minor or small start-ups, to big, well-known companies that might or might not be owned by a single individual.
At times, businesses require comparatively huge capital or great experience for worthwhile establishment. Henceforth, two or more companies or independent businesses come together and form a kind of partnership also known as a joint venture.
What do you mean by a Joint Venture?
A collective beginning of a new business or company by pulling in resources from individual companies involved is called a joint venture.
In this type of partnership or business, the objectives of the parties involved are common and similar, that also include setting up of a new and independent business. Here, the legal status of the parties remain independent.
Objectives of a Joint Venture
There can be several purposes to establish a joint venture agreement in India. However, one of the most common ones that exists is to form a partnership with local businesses to step into the foreign markets.
Important points to consider before starting a Joint Venture in India
Every single party (company) involved in a joint venture shall be held accountable for the probable operating profits, losses and costs involved.
A joint venture can exist in innumerable forms, depending upon the major objective. Usually, you would find corporations, limited liability companies, strategic alliances and partnerships existing as the few common types.
To begin with a joint venture, one of the most important starting points is the establishment of a legal document or agreement. It would mention all the necessary terms and conditions relating to the business or venture.
What is a Joint Venture Agreement?
The Joint Venture Agreement officially details the common objective, individually pooled resources (by each company), regular duties, terms, responsible party to be held responsible in case of probable losses and much more.
The agreement precisely offers an understanding of the entire joint venture set up to avoid any possible conflict that might exist in the future. However, even if some obligation or disagreement develops over the time, the document would help resolve the same, based upon the contents mentioned.
How to make a Joint Venture Agreement in India?
Being an important document for the joint venture that you set up, it requires a detailed analysis and professional experience to establish one. To assist you with the same, we have got you online legal consultation services with a range of expert and experienced lawyers that not only assist you during the procedure, but help you come to a profitable decision over disputes.
You may go through the available list of online lawyers with their qualifications and details mentioned along, and decide choosing one, based upon your preference and requirement. You would have the entire control over whom you choose for your legal advice.
What should you consider before signing the joint venture agreement/contract?
Advantages of Joint Venture Agreement in India
There are several benefits that a business may enjoy or experience while starting a new Joint Venture. A few of them are also explained below:
a) Detailed Call with you to understand your specific requirements
b) Post delivery another call to ensure it meets all your requirements and final submissions.
What can the Legal Experts do for you? Our team of lawyers is ready to help you in minutes with any legal question.