Joint ventures are collaborations between two or more independent parties (JV parties) undertaken for their mutual benefit for a variety of commercial, strategic, or financial reasons, such as to jointly develop a single purpose project or new technology, or to own and operate a business. Joint ventures are typically formed as new business entities in an agreed proportion by the JV parties or through a contractual relationship without the use of a separate entity (sometimes referred to as an alliance or strategic alliance, particularly in the IT and software development space). The JV parties make contributions to the joint venture (JV), such as cash or non-cash assets, or services. They typically take an active role in the governance, and sometimes the management, of the JV, either directly or through their representatives.
JVs are usually complex transactions that require legal expertise and knowledge across a wide range of topic areas. As your business attorney, Justin Lowenthal will help capture the underlying goals of the JV parties, meets the JV’s and JV parties’ technical, operational, financial, accounting, regulatory, legal, and tax requirements, and provide a framework that will allow the JV parties to successfully carry out the purpose of the JV over its term.