Solicitors in Essex & London
A joint venture agreement is a contractual arrangement which is made, usually between landowners, companies, financial institutions and/or private individuals. Its purpose is to combine resources and expertise to achieve an end result. Joint venture agreements tend to be created to acquire or dispose of an asset, such as property and/or real estate, or for the development of a property. Our land development solicitors have been instrumental in creating robust and time-sensitive joint venture agreements for many clients across Essex and London.
Joint ventures can be of particular interest to those wishing to develop a site in conjunction with others, providing the advantage of spreading both the risk and the financial cost between the parties to the venture. The members of the joint venture also tend to bring their particular expertise to the arrangement, which can extremely advantageous when dealing with development sites.
There are a number of ways in which a joint venture can be structured depending on what the parties are seeking to achieve. A joint venture agreement will deal with the legal structure of the venture itself, including how matters are to be dealt with and organised. The agreement will also consider the financial contributions of the participants and how shares of the monies received are to be dealt with after the sale, including any losses. The key advantage of a joint venture agreement is that each party has a particular role and skill set that they bring to the venture, helping to ensure that the project is progressed and completed efficiently.
No two joint venture agreements are the same, and we appreciate that each client’s needs vary. Our land development solicitors have the experience and expertise to draft the joint venture to reflect your individual requirements and desired outcome.
If you require further legal support relating to the drafting and implications of a joint venture agreement, please feel free to contact any of our land development solicitors directly. We operate out of five offices across Essex and London, or, if more convenient, we are happy to meet you onsite at your own premises.