Our attorneys understand that their are different goals and expectations when it comes to joint ventures.
The members of any joint venture often have different goals and expectations for their participation in the entity. In most cases, these are based upon what they are required initially to contribute. However, regardless of the disparate positions of each member, the basic contract clauses which will control, reflect, and execute these expectations are the same in each operational agreement. These are:
- Funds in
- Funds out
- Additional equity requirements
- Management and control
- Buy-sell rights
- Rights to transfer interests
These are simple terms which, however, will be reflected in sophisticated clauses each of which then lead to a waterfall of form and structure within a cohesive document.
The drafting of that document and any additional agreements necessary to support and/or supplement language thereof are handled within this sub-group.