What a Strong Joint Venture Agreement Should Include

Not all Joint Venture agreements are created equal, and vague terms can come back to bite you mid project.

Here’s what a solid JV agreement should cover:

• Project scope, goals and who’s doing what
• Who’s putting in what (cash, staff, IP, equipment) and how profits/costs are shared
• How it’ll be managed (e.g. project control group, audit, insurance)
• What happens if there’s a breach or dispute
• IP ownership, confidentiality, publicity restrictions, warranties and indemnities to ensure one party doesn’t end up carrying the can

Pro tip: If you’re using the JV to tender for government work, make sure you understand joint and several liability; each party could be on the hook for the whole contract, not just their part.

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