Joint Ventures for tech
Technology innovations come about when multiple innovators collaborate to create something new. With major tech-businesses always looking to be involved in large projects with other market leaders, Joint Ventures can create the perfect opportunity for innovation.
Join Ventures enable the rights and obligations to be laid out from the get-go through a Joint Venture Agreement. This ensures that each innovator has their individual interests legally protected, while ensuring the group works together to achieve the agreed Joint Venture goals.
The Biztech Lawyers team supports tech-innovators with Joint Venture solutions, across every industry.
What is a joint venture agreement?
The key elements of a Joint Venture are usually set out in a Joint Venture Agreement. These agreements are often set up for a limited period and outline the contribution each innovator brings to the project. The details of a Joint Venture Agreement are vital to laying down the pathway of the project, and the rights and obligations that will govern the activities of each party.
Joint Venture Agreements can take different forms – in the establishment of incorporated or unincorporated joint venture entities, in which two parties work together in the interests of a common project.
In the case of incorporated joint ventures, a new company is registered with the parties involved being shareholders in the new company. In these types of joint ventures, the Shareholders’ Agreement lays out the rights and obligations of the parties and the mechanics of how the joint venture will be carried out.
The decision-making standards in a Joint Venture can vary between unincorporated joint ventures and incorporated joint ventures.
Legal support is vital to navigating the legal complexities of Joint Ventures, and to setting up an arrangement that is right for you and the solution as a whole.
What should a joint venture agreement contain?
- The main purpose of the joint venture, as an overarching element in the agreement
- Work and monetary contributions to be provided by each contributor
- Rights and obligations of each contributor
- The period during which the joint venture will operate
- Dispute resolution mechanism
- Termination rights and the effects of termination, including rights of first refusal and winding up
Biztech’s Joint Venture solutions
Biztech Lawyers supports Joint Ventures through:
- Company setup, including shareholding of the joint venture partners and the company constitution of an incorporated joint venture entity;
- Tax advice on the structure of the joint venture entity;
- Associated contracts, such as inbound received service agreements and outbound provided service agreements;
- Real property advice;
- Employment advice, including industrial awards and enterprise bargaining agreements.
- Intellectual Property, including trademarks, copyright, IP licenses and assignments; and
- Data protection, and Info-Sec.
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