It may be that the number of participants is limited directly or indirectly by other factors such as the business structure, business sector or practicality. Whilst, a joint venture requires at least two parties, there is no maximum number of participants from a contractual perspective. In some business sectors there may be specific requirements relating to the identity of participants. In general terms, any individual or other legal person (such as a company or LLP) may enter into a joint venture. Depending on the circumstances, they may be local, national or international in their scope. The purpose, structure, duration and complexity of joint ventures can vary considerably. They may take the form of business structures such as limited companies, limited liability partnerships, limited partnerships or partnerships, or may be purely contractual arrangements such as collaboration agreements, consortium agreements or strategic alliances. Whilst the term ‘joint venture’ is used frequently in connection with business arrangements, there is no legal definition of a ‘joint venture’ in the UK.Įssentially, a joint venture (often referred to as a JV) is a collective term used to describe a range of different types of corporate, commercial or other arrangements between two or more persons (whether individuals and/or other legal persons, such as companies). Joint ventures & joint venture agreements What is a Joint Venture (JV)? :: :: TUPE and Transfers of Undertakings.:: :: Reorganisations and restructuring.:: :: Share Options, Agreements & Schemes.:: :: Business & Asset Purchases & Sales.:: :: Joint ventures & joint venture agreements.:: :: Setting up, managing and closing different types of partnership.:: :: Partnerships, Limited Partnerships & LLPs.:: :: Company Memorandum of Association.:: :: Private Companies Limited by Guarantee.:: :: Private Companies Limited by Shares.:: :: Franchising and Franchise Agreements.:: :: Distributors and Distribution Agreements.:: :: Agency, Agents and Agency Agreements.
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