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ARTICLE · 14 APRIL 2021

Making Joint Ventures Work

Mayer Brown
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What are the elements of a successful JV, and what contractual omissions can lead to failure?

United KingdomCorporate/Commercial Law
James Morris
James Morris
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An article on what makes a successful joint venture.

What are the elements of a successful JV, and what contractual omissions can lead to failure?

Joint ventures between contractors are common, especially on very large infrastructure projects such as Crossrail. The perceived commercial benefits include the ability to share risk and increase bargaining power. Sometimes it is essential to form a JV to demonstrate the skills and/or experience required to win the work. Or local law may require the use of local labour, and joining forces with a local contractor is a way to meet that requirement.

Despite their popularity, JVs do not always succeed. Indeed, they often fail. Why does that happen, and what can be done to reduce the risk of failure? JV partners face important choices at the outset, and during the partnership, which they need to consider carefully, to maximise the prospects of success.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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