Simple Joint Venture Agreement Template for United States

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Key Requirements PROMPT example:

Simple Joint Venture Agreement

"I need a Simple Joint Venture Agreement for a technology startup partnering with an established software company to develop a new AI product, with equal ownership stakes and clear IP protection provisions, planned to commence on March 1, 2025."

Document background
The Simple Joint Venture Agreement is a fundamental business document used when two or more parties wish to collaborate on a specific business venture while maintaining their separate legal identities. This document is particularly relevant in the United States business context, where it must comply with both federal and state-specific regulations. The agreement is commonly used for project-specific collaborations, market expansion, or combining complementary resources and expertise. It includes essential provisions for venture formation, capital contributions, profit sharing, management structure, and operational procedures. The Simple Joint Venture Agreement is especially valuable for businesses seeking to share risks and resources without creating a new corporate entity, making it a flexible tool for various business arrangements from small-scale projects to significant commercial ventures.
Suggested Sections

1. Parties: Identification of all joint venture partners with their full legal names and addresses

2. Background: Context of the joint venture formation and brief description of each party's business

3. Definitions: Key terms used throughout the agreement defined for clarity and consistency

4. Joint Venture Scope and Purpose: Clear definition of the venture's business objectives, activities, and limitations

5. Contributions and Capital: Details of initial and ongoing contributions from each party, including cash, assets, or services

6. Ownership and Profit Sharing: Specification of ownership percentages and how profits/losses will be distributed

7. Management and Control: Governance structure, decision-making processes, and voting rights

8. Operations: Day-to-day management responsibilities and operational procedures

9. Rights and Obligations: Core responsibilities and rights of each party in the venture

10. Term and Termination: Duration of the joint venture and circumstances for termination

11. Confidentiality: Protection of confidential information and trade secrets

12. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution

13. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

Optional Sections

1. Intellectual Property Rights: Detailed provisions for IP ownership, licensing, and development when the JV involves significant IP

2. Non-Competition: Restrictions on competitive activities, needed when parties operate in similar markets

3. Employment Matters: Employment terms and policies when the JV will have its own employees

4. Insurance: Insurance requirements and obligations when significant operational risks exist

5. Environmental Compliance: Environmental obligations and compliance requirements for ventures in regulated industries

6. Technology Transfer: Terms for technology sharing and transfer when technical knowledge is central to the venture

7. Marketing and Branding: Guidelines for marketing activities and brand usage when customer-facing operations are involved

8. Exit Strategy: Detailed procedures for party exit, buyout provisions, or venture sale when long-term collaboration is planned

Suggested Schedules

1. Schedule 1: Initial Contributions: Detailed list of each party's initial capital, asset, or resource contributions

2. Schedule 2: Business Plan: Initial business plan including strategic objectives and financial projections

3. Schedule 3: Management Structure: Organizational chart and key personnel responsibilities

4. Schedule 4: Reserved Matters: List of decisions requiring special approval or unanimous consent

5. Schedule 5: Accounting Policies: Agreed accounting principles and financial reporting requirements

6. Appendix A: Form of Board Resolution: Template for board resolutions and decision documentation

7. Appendix B: Service Level Agreements: Details of any services provided between parties or to the joint venture

8. Appendix C: IP Register: Register of intellectual property rights brought into or developed by the venture

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Relevant Industries

Technology

Manufacturing

Real Estate

Healthcare

Retail

Construction

Financial Services

Energy

Agriculture

Transportation

Entertainment

Education

Professional Services

Hospitality

Mining and Resources

Relevant Teams

Legal

Corporate Development

Business Development

Executive Leadership

Finance

Operations

Risk Management

Strategy

Compliance

Commercial

Project Management

Investment

Partnership Development

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Legal Officer

General Counsel

Business Development Director

Corporate Strategy Manager

Managing Partner

Operations Director

Commercial Director

Legal Counsel

Contract Manager

Partnership Manager

Investment Manager

Project Director

Venture Development Manager

Risk Management Officer

Corporate Secretary

Board Member

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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