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Oct 06

Sample Joint Venture Agreement India

In this article, you`ll learn all about joint ventures, joint venture agreements, and even the steps and tips for creating your own sample joint venture contract. Read on to know all this relevant information that can be provided for the future. This type of joint venture is usually created when a parent company or a main enterprise enters into an agreement with its branches or small enterprises to transfer resources (such as technology), safeguard their intellectual rights or market their products and services in the national territory. If your agreement contains all this, it would most likely be effective. Now let`s move on to the planning phase of your joint venture. 14.2 Where a Member affirms in writing that a legal liability is attributable to the other Member or Members, the Members shall make reasonable efforts to reach agreement on the commitments to be assumed by each of the Members and, if the Members do not consent. a proper allocation shall be established by arbitration proceedings in accordance with paragraph 19. This type is created when two parties come together with an agreement to sell their products or services. The main objective of this type of joint venture is to reduce marketing efforts and costs, while products or services gain a wider market and a wider reach. Some examples of this type of joint venture would be, but are not limited: the names of the signatories of the JV members and their witnesses for the validation/approval of the agreement.

There may come a time when your company would launch a project and a strategic alliance with an individual or team would be needed to finalize it. In such cases, it is very likely that you should conclude a joint venture agreement so that everything is clear to both parties. Unlike a partnership that would last longer, or even lasting, a joint venture would only last as long as the project is underway. Once the project is completed, the joint venture would also be completed. Now you have planned your joint venture and are ready to make a deal with a second party. In order for you to create a good example of a joint venture agreement, you might need a few useful steps and tips to guide you. `Joint Undertaking` means the Joint Undertaking established between the Members under this Agreement; The joint ventures would create a separate legal entity, with the exception of each party`s business units. This means that costs, income and ownership of assets are borne by the joint venture and go directly to the persons or undertakings concerned. Both parties should commit to their assets, preserve equality and agree on how to manage the unit.

Once the project or activity is completed, this would mean that the joint venture has achieved its objectives and that the unit will also be completed. The Parties agree to keep secret all information communicated to them by another Party or the Joint Undertaking which is classified as confidential by the other Party or the Joint Undertaking or which is considered desirable. The parties also agree not to use this information for purposes other than those expressly provided for in this Agreement. Write down the details of each party and the matters of interest to them through the joint venture. If the parties have specific responsibilities with respect to the joint venture, the details of those responsibilities may also be taken into account. For example, if one party provides trained personnel and the other is required to provide financial investments, these responsibilities may be described in the document. 13.1.