A joint venture agreement is a document setting out how two parties, whether individuals or businesses, intend to work together:
- the type of work you will do;
- how time and resources will be allocated;
- how the profits will be split
The contents of the joint venture agreement will depend on what the parties are trying to do. It may be decided to cooperate on a one-off basis for a particular project or a limited period, such as a year. Both parties should be clear about the nature of the agreement and satisfied that it is fair for both. The agreement should set out in detail what each party will contribute and what they are trying to achieve.
This joint venture agreement template is 6 pages long.