{"id":160,"date":"2019-05-17T11:16:34","date_gmt":"2019-05-17T05:46:34","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=160"},"modified":"2019-08-24T17:50:24","modified_gmt":"2019-08-24T12:20:24","slug":"joint-venture-agreement-nature-draft","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/","title":{"rendered":"Joint Venture Agreement"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/#What_is_a_Joint_Venture\" title=\"What is a Joint Venture?\">What is a Joint Venture?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/#What_is_the_need_for_Joint_Venture\" title=\"What is the need for Joint Venture?\">What is the need for Joint Venture?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/#Examples_of_Joint_Venture_Agreement\" title=\"Examples of Joint Venture Agreement.\">Examples of Joint Venture Agreement.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/#Real_Estate_Joint_Venture_Agreement\" title=\"Real Estate Joint Venture Agreement\">Real Estate Joint Venture Agreement<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/#What_is_the_nature_of_a_Joint_Venture\" title=\"What is the nature of a Joint Venture?\">What is the nature of a Joint Venture?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/#What_is_a_Joint_Venture_Partnership_Agreement\" title=\"What is a Joint Venture Partnership Agreement?\">What is a Joint Venture Partnership Agreement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/#What_are_the_basic_clauses_of_a_Joint_Venture_Agreement\" title=\"What are the basic clauses of a Joint Venture Agreement?\">What are the basic clauses of a Joint Venture Agreement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/#Why_a_Joint_Venture_Agreement_is_Important\" title=\"Why a Joint Venture Agreement is Important?\">Why a Joint Venture Agreement is Important?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_a_Joint_Venture\"><\/span><strong>What is a Joint Venture?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A short term partnership formed for a specific purpose (project) and a specific time period.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-563 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/join-venture.jpg\" alt=\"join venture\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/join-venture.jpg 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/join-venture-300x171.jpg 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/join-venture-20x11.jpg 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_need_for_Joint_Venture\"><\/span><strong>What is the need for Joint Venture?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the present scenario, many projects are too large for any company to undertake solely as it may involve huge financial resources. This situation truly comes into the picture in the infrastructure sector. Market access is a very crucial reason for the international proliferation of<\/span><span style=\"font-weight: 400;\"> joint ventures<\/span><span style=\"font-weight: 400;\">. Therefore, Joint Ventures are needed.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Examples_of_Joint_Venture_Agreement\"><\/span><b>Examples of Joint Venture Agreement.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Thanks to India\u2019s vibrant economy, there are several JVs that are flourishing in this country. While some companies are JVs between Indian and foreign partners, others are excellent examples of Indian firms combining forces with international majors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A great example of Indian Joint Venture with a foreign company is the airline,\u00a0<\/span><b>Vistara<\/b><span style=\"font-weight: 400;\">, a Full-Service Carrier. Vistara is the brand name of Tata SIA Airlines Ltd, a JV between India\u2019s corporate giant TTata Sons holds 51 percent stake while SIA controls the remaining 49 percent in the airline.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bharti AXA General Insurance Co Ltd is a JV between India\u2019s leading business group Bharti Enterprises and insurance major from France, AXA.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another good example of a Joint venture is between Mahindra-Renault, founded in 2007 brings together India\u2019s largest automobile manufacturer Mahindra &amp; Mahindra and world-renowned vehicle maker, Renault SA of France.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Real_Estate_Joint_Venture_Agreement\"><\/span><b>Real Estate Joint Venture Agreement<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A\u00a0<\/span><b>joint venture agreement<\/b><span style=\"font-weight: 400;\">\u00a0is typically used by companies or individuals (like\u00a0<\/span><b>real estate<\/b><span style=\"font-weight: 400;\">\u00a0investors) who are entering into a onetime project, investment, or business opportunity<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_nature_of_a_Joint_Venture\"><\/span><strong>What is the nature of a Joint Venture?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Joint ventures are either contractual or structural or rather both. The victory of the Joint Venture depends upon the following factors:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Common vision and mission of the Parties;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A commitment of the parties towards each other and the strong commitment to each other and the joint venture.<\/span><\/li>\n<\/ul>\n<p><b>Establishing a Joint Venture<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Selection of Partner<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Negotiation Phrase<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Execution Phase<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Documentation (Joint Venture Agreement)<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_a_Joint_Venture_Partnership_Agreement\"><\/span><b>What is a Joint Venture Partnership Agreement?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While documentation of a Joint Venture the most crucial document is a Joint Venture Agreement which is widely known as Shareholders Agreement. Basically, a Joint venture Agreement specifies the method which shall be followed for the formation of the Joint Venture Company and also declares the mutual rights and obligations of the parties for the purposes of conducting the Joint Venture and also the mode in which the parties will conduct themselves in operating and managing the Joint Venture Company. The<\/span><span style=\"font-weight: 400;\"> Joint Venture Agreement<\/span><span style=\"font-weight: 400;\"> is between partners and it does not bind the company until and unless it is included in the Articles of Association.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_are_the_basic_clauses_of_a_Joint_Venture_Agreement\"><\/span><strong>What are the basic clauses of a Joint Venture Agreement?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The date on which the agreement is established and has to be executed;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Name of the joint venture under which the business will be carried on;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The principal place where the business of the joint venture would be operated;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Parties to Joint Venture Agreement;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Business objects and products of the Joint Venture;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Formation of Joint Venture Company;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Registered office;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Equity participation by local and foreign investors;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Finance arrangements;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Specific obligations;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Grant of technical assistance and know-how;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Grant of license for the use of the trademark, patent, copyright, etc.;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Providing the facility of established distribution channels;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Access to research, innovation, and product improvements;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Providing marketing expertise;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Providing management services.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Agreement as to the future issue of capital;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Appointment of directors;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span> <b>Conduct of the affairs of the Joint Venture Company;<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\"> o \u00a0\u00a0The frequency of Board meetings;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Notice;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Agenda;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Quorum;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0General Meetings;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Circular Resolutions;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Accounting;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> o \u00a0\u00a0Audit<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Transfer pricing and buy\/sell Agreements;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Share transfers;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Distribution \/ Dividend Policy;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Name\/ Brand licensing Agreement;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Research and Development &#8211; Improvement and Innovation;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Non-competition provisions;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Confidentiality\/ Secrecy;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Period of the agreement;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Termination;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Force Majeure;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Bearing of pre-operative expenses\/costs;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Arbitration;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Governing Law;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Indemnification;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Assignment;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Precondition;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Supremacy<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_a_Joint_Venture_Agreement_is_Important\"><\/span><strong>Why a Joint Venture Agreement is Important?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">At the first place, it is very important to get your deals documented so that in future if a need arises you must have the capacity of taking the matter to the court.<\/span> <span style=\"font-weight: 400;\">Joint Venture Agreement<\/span><span style=\"font-weight: 400;\"> lays down every minute detail about the business and thus also specifies the benefits and responsibilities of each party. This avoids confusions. Joint Venture is generally formed for a specific purpose and time period and this agreement specifies it. Even if you wish to wind up the joint venture before the specified period this joint venture agreement would also specify the manner in which the winding-up of this Joint Venture can take place.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is a Joint Venture? A short term partnership formed for a specific purpose (project) and a specific time period. &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Joint Venture Agreement\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/#more-160\">Read more<span class=\"screen-reader-text\">Joint Venture Agreement<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Joint Venture Agreement AKT Associates<\/title>\n<meta name=\"description\" content=\"A short term partnership formed for a specific purpose (project) and a specific time period. 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