Joint Venture and Strategic Partnerships
As entrepreneurs often don’t possess certain skill sets within their team members, an excellent method of growing their businesses without the necessity of finding the expertise that they need in different areas of expertise is to partner with those that have what they don’t.
There are many different structures of working with another company, an owner of certain intellectual property, or an expert in an area that you are lacking. Keeping these transactions easy to administer, easy to understand, easy to account for, and easy to keep proprietary information, proprietary are important goals of a good business relationship.
Profit division, cost accounting and allocations, overhead sharing formulas, jointly developed intellectual property ownership, monetary participations of the parties, key responsibilities and functions, and creative decision making are other important factors in the structures of well thought-out successful agreements.
Developing structures between companies, individuals, creators, rights owners, end users, manufacturers, distributors and other critical parties to any strategic partnership or joint venture is both challenging and a complete delight when a properly motivating and protective agreement is reached among the parties.
I am eager to assist you with the thought process and preparation of clear and effective contracts and partnership and/or joint venture agreements to increase the probability that each will work as planned. In order to understand the issues involved in these arrangements, I have been a consultant and attorney to parties in these situations for decades.