Translate to 108 Language Click Here

It Takes Two: Starting Up A Joint Venture – Join Venture Blogger Blog
Mon. Mar 27th, 2023
Afrikaans Afrikaans Shqip Shqip አማርኛ አማርኛ العربية العربية Հայերեն Հայերեն Azərbaycan dili Azərbaycan dili Euskara Euskara Беларуская мова Беларуская мова বাংলা বাংলা Bosanski Bosanski Български Български Català Català Cebuano Cebuano Chichewa Chichewa 简体中文 简体中文 繁體中文 繁體中文 Corsu Corsu Hrvatski Hrvatski Čeština‎ Čeština‎ Dansk Dansk Nederlands Nederlands English English Esperanto Esperanto Eesti Eesti Filipino Filipino Suomi Suomi Français Français Frysk Frysk Galego Galego ქართული ქართული Deutsch Deutsch Ελληνικά Ελληνικά ગુજરાતી ગુજરાતી Kreyol ayisyen Kreyol ayisyen Harshen Hausa Harshen Hausa Ōlelo Hawaiʻi Ōlelo Hawaiʻi עִבְרִית עִבְרִית हिन्दी हिन्दी Hmong Hmong Magyar Magyar Íslenska Íslenska Igbo Igbo Bahasa Indonesia Bahasa Indonesia Gaeilge Gaeilge Italiano Italiano 日本語 日本語 Basa Jawa Basa Jawa ಕನ್ನಡ ಕನ್ನಡ Қазақ тілі Қазақ тілі ភាសាខ្មែរ ភាសាខ្មែរ 한국어 한국어 كوردی‎ كوردی‎ Кыргызча Кыргызча ພາສາລາວ ພາສາລາວ Latin Latin Latviešu valoda Latviešu valoda Lietuvių kalba Lietuvių kalba Lëtzebuergesch Lëtzebuergesch Македонски јазик Македонски јазик Malagasy Malagasy Bahasa Melayu Bahasa Melayu മലയാളം മലയാളം Maltese Maltese Te Reo Māori Te Reo Māori मराठी मराठी Монгол Монгол ဗမာစာ ဗမာစာ नेपाली नेपाली Norsk bokmål Norsk bokmål پښتو پښتو فارسی فارسی Polski Polski Português Português ਪੰਜਾਬੀ ਪੰਜਾਬੀ Română Română Русский Русский Samoan Samoan Gàidhlig Gàidhlig Српски језик Српски језик Sesotho Sesotho Shona Shona سنڌي سنڌي සිංහල සිංහල Slovenčina Slovenčina Slovenščina Slovenščina Afsoomaali Afsoomaali Español Español Basa Sunda Basa Sunda Kiswahili Kiswahili Svenska Svenska Тоҷикӣ Тоҷикӣ தமிழ் தமிழ் తెలుగు తెలుగు ไทย ไทย Türkçe Türkçe Українська Українська اردو اردو O‘zbekcha O‘zbekcha Tiếng Việt Tiếng Việt Cymraeg Cymraeg isiXhosa isiXhosa יידיש יידיש Yorùbá Yorùbá Zulu Zulu


Rate this post

One of the problems with starting up a business or trying to enter a market is that sometimes you have the expertise but none of the money or you have all the capital but none of the manpower or the requisite knowledge. It’s kind of risky when you’re starting after all.

That’s where starting a joint venture comes in. A joint venture is essentially a limited form of legal partnership that spreads the risk of a business between two or more partners. Joint ventures are usually dedicated to one purpose though there are several ventures that are continuing business relationships – MSNBC, Microsoft and NBC Universal’s cable news channel, being a prime example of an ongoing joint venture.

The lessening of potential loss for both partners is one of the more obvious perks of being in a joint venture, but the fact that you and your partner share resources and expertise is the main point. He may have information on the marketplace and already have a distribution channel set up, while you have a product that you think is appropriate for the target demographic and just needs to reach the customers. Combining your skills is a no-brainer.

So how does one go about going into a joint venture? Well, of course, the first step is getting a partner or partners. Write up a list of prospective partners and do a thorough screening – checking on the company’s history and determining whether they are what you’re looking for. After that, you should contact your potential partner so that you develop a business plan together – this includes both how your business relationship begins and ends, if your venture will be a limited one. Another part of the business plan will be how your companies will be structured to accommodate each other and how the income will apportioned.

When you’ve cleared up the nitty-gritty business details, it’s time to go into the legal stuff. When you’re dealing with the finer points of business law, it would be best to hire a lawyer – yes, it may be expensive, but it will be even more expensive in the long-run if you don’t hire one to draw up your partnership agreement. An ironclad legal agreement is the best defence against any future litigation that can be sent in your direction. Here are the main points that should be highlighted in your joint venture agreement: how intellectual property rights are dealt with, how the venture is managed, what the partnership covers in terms of business and what each partner is supposed to contribute to the venture.

It should also be noted that the legal agreement must also cover how the venture may end – you may have achieved your goal, or you and your partners’ interests have diverged or you have agreed to end the partnership at a particular time.

And there you go – that’s how you start your joint venture. Of course, it’s a simple introduction but the details will be unique in your situation and the legal stuff will require a more detailed explanation but that’s all you need to go into business with someone else.

Click Here to Read More About Joint Ventures


By x10tv

Leave a Reply