Corporate

Joint Venture Agreements

A Joint Venture is a business that has a specific focus and is often project driven. In many Joint Ventures one party has a particular level of knowledge and skills associated with the project and the other parties have assets (including equipment or land) that is required to fulfill the objectives associated with the project.

What is unique about this type of business is that each party retains control of its contribution to the project and, if the project is successful when it has been completed, both parties share in the rewards.

A Joint Venture Agreement is required whenever the parties have chosen to manage their business opportunity using this structure because in addition to issues that can arise between Venturers, the Venturers need to address issues that are likely to arise with the Canada Customs and Revenue Agency, who would prefer the relationship between the parties be taxed in the same manner as partnerships. The 2020 Law Group has worked with many groups in the negotiation and drafting of Joint Venture Agreements and is able to assist you in preparing your agreement. If you require a Joint Venture Agreement, or wish to receive additional information with respect to these agreements, please contact our office at 403-730-2020.