As business projects get larger, technology more expensive, and the costs of failure too large to be borne alone, businesses often feel the need to partner with other businesses through joint development relationships - also known as joint ventures.

In general, a joint venture (JV) is a strategic alliance where two or more parties (usually businesses) form a partnership to share markets, intellectual property, assets, knowledge, and, of course, profits. In increasing numbers, businesses have been reaching beyond national boundaries in an effort to locate new opportunities for growth, new markets, and new venture capital. Each foreign market offers unique opportunities and risks, and many firms naturally look to JV's with one or more partners for assistance in entering new markets. JV's have become a major feature of the international business landscape due to increased global competitiveness and technological innovation.

The formation of a JV can be a complex process. After a compatible joint venture partner is selected, the specific goals of the enterprise must be defined, the structure of the JV must be negotiated, numerous legal issues must be recognized and resolved, and potential areas of conflict between the joint venture partners must be identified and reconciled. If the JV is formed under the laws of a country other than the United States, the joint venture partners must take the time to understand the requirements of the foreign country's corporate law.

If you are interested in possibly forming a joint development, or simply would like more information, we invite you to call 888-789-5789 or email us to schedule your FREE initial consultation, during which we can explain the joint development process to you in more detail, draft a joint development agreement that is tailored to accommodate your particular needs, and answer any follow-up questions that you may have.