In times of economic uncertainty, joint ventures are often
considered an attractive vehicle for combining the skills and
resources of multiple businesses without the risks and costs
associated with an acquisition.
Although joint ventures offer many advantages. Disputes and
failed arrangements are a common occurrence.
Usually, joint venture breakdowns are due to lack of due
diligence, joint venture agreement breaches and/or a lack of
understanding between the parties.
Where joint ventures fail, the costs of resolving disputes or
unwinding arrangements can be significant. Representation by an
experienced legal professional is therefore imperative.
WHAT IS A JOINT VENTURE?
A
joint venture involves the combination of two or more
businesses knowledge and skills to achieve a common goal or
objective, usually for a specified project.
