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A joint venture is essentially a strategic association between several parties to market and sell products or services by bringing together their products and services or their finances to conduct a commercial undertaking.
The justification of a successful joint venture in India ensures the same compatibility and mutual understanding between the parties involved. The need for a shared goal between the parties and clearly defined parameters within the Joint Venture Agreement will command the success of that collaboration in the Indian context.
- Intention of two or more parties to merge into a partnership or venture.
- Both parties agree to invest in the venture according to the terms defined above.
- Each of the parties shall be allocated respective duties and rights as mentioned in the partnership.
- That the conditions agreed define the venture or partnership, including its duration and the parties' shares.
Why Take A Joint Venture?
- Gain New Expertise and Insights
- Broaden Resources
- Short Term and Keeping Independence
- Shared Risks and Costs
- Flexible Structure for Changing Needs
- Clear Exit Strategies Available
- Retain Ownership and Transferability
- Increase Chances Of Success
- Network and Relationship Boost
- Greater Potential and Reach
- Cost Saving by Shared Marketing
- International Biased Risk Minimization (For International Joint Ventures)
How We Work?
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Get a Call from Expert Legal Team
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Lawyer Will Get All the Necessary Information from You
04
Draft Will Be Created by the Expert Team of Lawyers
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Deed Will Be Sent to You for Approval
06
After Approval You Will Be Able to Download the Deed
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Frequently Asked Questions (FAQs)
Most jurisdictions have it that a Joint Venture Agreement is legally binding. It may also be used in a court of law for damage claims when the concerned parties agree to the contract terms.
Yes, Joint Venture is a contract and falls under the definition of a contract. It is a contract between two or more business entities for a fixed period of time. This contract binds a legal obligation to the members who entered in the contract in true and fair conscience.
A prominent book of accounts will represent the true and fair view of its finances, hence enabling the parties to take better financial decisions. A prominent book-keeping will help maintain abnormal cash outflows and other mishaps.