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Considerations For Forming A Joint Venture

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Anytime two or more parties decide to form a legal entity for economic gain, a joint venture is formed. The parties typically all contribute equity to the startup of the joint venture and then share in the profits and control of the venture. Sometimes the joint venture is very limited and it’s created solely for one project, and other times it is an ongoing relationship. There’s a lot to consider before you form a joint venture. Before you sign papers to form a joint venture be sure to do your homework on your soon to be business partners. Check their credentials and their credit. Develop a business plan that meets your needs. Then you can move to the next step and decide how to legally form a joint venture. There’s no limit on the type of legal structure that you can use to establish a joint venture. Some ventures are simple partnerships, and others are complex corporations, for example. In order to decide which legal structure is the best for your joint venture, you need to consider your short- and long-term goals, your risk adversity, you’re available capital and the way in which you want the venture managed

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