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Introduction to this document

Joint ventures summary

If you have a business idea but need some third party input to bring it to fruition, a joint venture might be the solution. Our summary takes you through the key points to consider.

What is a joint venture?

A joint venture (JV) describes a collaboration between two or more separate businesses for the purposes of a particular project or business activity, for example, a software developer teaming up with a hardware manufacturer to create a new piece of tech.

The participants in the joint venture can be businesses run in any form, and the JV itself could be set up as a separate entity (company, partnership or LLP) or it could simply be a contractual venture between the participants with no separate business vehicle being created.

The right combination for your business will, of course, depend on your circumstances. Entering into a joint venture is a significant commercial decision, so it is advisable to obtain specific advice on the applicable legal and tax implications of the various options for your company.