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ADVOCATES FOR JOINT VENTURE AGREEMENTS
You may want to partner with another business that has resources and abilities. It can be technology, finance or channels of distribution. These are some of the good reasons why Joint ventures are becoming popular.
Advocate Saravvanan Rajendran Law Chamber in Chennai high Court help to draft and Register Joint Venture agreements in stipulated time.
What is a Joint Venture?
It is a business association where two or more persons/entities enter into an agreement. These agreements get entered between businesses for making profits without a permanent partnership. Joint venture members maintain their independence. Choose the Best Advocates for Joint Venture Agreements in Chennai.
Partnership Vs Joint Venture
Partnership and Joint venture may look similar. But there is a significant difference in their implications. A partnership is a long-term business association but a JV is a single business project.
Businesses enter into JV agreements for individual benefit and to share project goals. It can be to develop a product or Intellectual property rights. But the partnership is about collective profits. Economics is the main part of any JV.
Corporate Advocate for legal advice for Joint venture agreement
In case you are looking forward to expanding your business? Do you want to gain entry into new markets to make profits? Joint venture agreements are an attractive option. JV is a special business relationship. Different people/businesses enter into contracts for a specific period. It is to achieve a special aim. The collective goal will help businesses to reach their goal in an easy and efficient manner. Contact the best Corporate advocate for a bit of legal advice and Draft Joint venture agreements.
Lawyers for Joint venture agreements in Business
The legal obligations of JV agreements are a bit complex for a layman to understand. We are glad to assist you in joint venturing with another business. Corporate advocates in our Law firm strive to protect your business interest ensure your business remains compliant. Find the Best Lawyers for Joint venture agreements in Business
Attorneys for Joint Venture agreement
You need to be aware of the Joint Venture agreement obligation. In fact, You need to be conscious of the risk of forfeiting the contract. Only Corporate advocates know the nuances & pitfalls that they encounter during entering a business venture. Our Law firm assists in the bidding of joint ventures up to ensuring contract performance. The Team of Corporate attorneys in Advocate Saravvanan Rajendran Law office makes sure that the parties qualify for a joint venture.
What is an International Joint Venture?
Two international companies or individuals form a company. The business of one gets transferred to the other in return for consideration. The consideration is in the form of shares of the new company formed. The other party gets the share by paying cash.
Promoter shareholders can be a resident or nonresident. He can buy shares in the Joint venture. Business houses need to take into account some practical considerations before JV contracts. Some countries have a separate legal entity for a joint venture business. But some countries do not make them any different from corporate.
The compatibility between the parties of a joint venture leads to success. The parties need to have a positive goal and conditions drawn out for them in the JV clauses.
One hundred percent of foreign direct investment is not allowable in India. Hence foreign investors prefer to do business in India through Joint Venture companies. JV has a low-risk option for foreign businesses entering India.
Laws governing Joint ventures in India
Corporate Joint ventures come under
- Companies Act,
- Limited Liability Partnership Act
- Foreign Exchange Management Act
- Min. Wage Act
- Industrial Disputes Act
- Shops and establishment legislation of respective states
- Competition Act
- Other industry-related laws.
How to draft a joint venture contract?
The first step of the success of your joint venture is to choose a good home partner.
Once chosen, parties sign a Memorandum of Understanding or a letter of intent. It lays the foundation for the future joint venture agreement.
It is wise to move forward with the JV agreement with a Chartered Accountant and Advocate. They are proficient in the Foreign Exchange Management Act and the Indian Income-tax Act. They have good knowledge of the Companies Act; international laws & other applicable Indian regulations
Assessment of terms and conditions is a must before signing the contract. It is necessary to understand the cultural and legal background of the parties. All applicable Govt. and legal approval is necessary for the joint venture. Foreign companies need not get any objection certificate from Indian associates. Overseas companies can work on their own now.
Important points to be borne in mind while entering into joint venture agreements.
- What are the Applicable laws?
- What is the Shareholding pattern;
- Venue & Frequency of board meetings
- What is the Composition of the board of directors?
- Who is there in the Management Committee?
- General Meeting & its venue;
- Quorum composition for important decisions
- Share Transfer
- Dividend policy;
- Employment of funds
- Change of control
- Restriction on assignment clauses
- Non-compete clauses
- Confidentiality clauses
- Indemnity clauses
- Deadlock clauses
- Jurisdiction for dispute resolution of the dispute
- Notice and Termination clauses
Benefits of Joint venture
A foreign investor can get into India’s marketing & distribution channels. Indian partners’ financial resources are accessible through a joint venture. Indian partners’ established contacts are accessible through a joint venture. It eases foreign investors to set up their operations in India
Associate parties can together manage the risks and share liabilities. A joint venture offers business diversification. Foreign investment is not allowable in India for certain sectors. A local partner is a necessity in such cases.
Best Corporate Advocate for Joint Venture agreements
Corporate advocates in Advocate Saravvanan Rajendran Law Chamber specialize in drawing up joint venture agreements. Corporate lawyers have experience in handling and launching many joint venture companies.
Contact Top Lawyers for JV Agreements in India
Many organizations think of downloading a joint venture template from the internet. Sign the same and go ahead with running the business. But there is more to entering in to Joint Venture agreements than signing the contract.
Small businesses may be at risk of losing their business to the industry sharks. Get in touch with top corporate attorneys and fix up a time and make an appointment to consult. Contact Top Lawyers for JV Agreements in India