If you run a business and require external help to enter a new market, or to assist in the development and launch of a new product or service, you may have considered joining forces with another business. In these circumstances a joint venture might be appropriate to facilitate your collaboration, particularly where there is no appetite for the businesses to merge.
Joint ventures can be useful if you need access to specialist skills and expertise or to an established presence in a country or region. They can also be useful where you need to reduce operating costs and increase output to achieve economies of scale or where the investment costs and risks associated with a project are too high to enable you to go it alone.
At Hatten Wyatt Solicitors in Kent, our team of corporate and commercial lawyers are experienced in helping businesses put joint ventures together. They can:
- advise you on the best operating model, whether that is a partnership, LLP or company, or via a standalone contractual arrangement;
- arrange new company incorporation, including the preparation of a memorandum, articles of association and shareholder agreement;
- negotiate terms and conditions which clearly define the identity of the parties, the purpose of the joint venture, its geographic reach, each party’s respective contribution, how operating costs and profits will be shared, governance arrangements, the decision-making process, exit provisions and a mechanism for bringing the joint venture to an end;
- deal with any employment law aspects where existing members of staff will be assigned to the joint venture or new personnel will be recruited; and
- devise a business dispute resolution procedure to enable differences to be resolved outside of court where possible.
Advising businesses throughout Kent and beyond
We have offices in Maidstone, Gravesend, Chatham and Tenterden.
We can also offer meetings at your place of business or via a skype conference call where needed.
We offer an initial appointment to discuss your requirements at a fixed cost of £150 plus VAT. After that we can arrange flexible payment terms, including monthly billing to help you budget.
Get in touch
If you need help with a joint venture, please get in touch to see how we can assist. You can call us on 01474 35 11 99 or use our contact form and we will call you.