Unincorporated JV Agreement
A joint venture is used when you want to enter into business with someone but don’t want to be responsible for them or what they do. Each person in the joint venture is responsible for themselves.
This contract is an unincorporated joint venture. An unincorporated Joint Venture means an association of persons or parties that come together to carry on any commercial activity without forming a corporation.
In a joint venture you will typically be sharing the output of the joint venture with each other. You will also likely be making different contributions.
For example, a joint venture could arise where you decide to make lemonade – one person contributes the machine, another the staff and the third the recipe and ingredients. At the end of it you all split the lemonade that was produced.
Instructions to fill in the template:
- Schedule 1 sets out the parties’ name and other information e.g. the term, purpose, addresses etc. Please refer to the last page of the document.
- Please fill in the necessary information in the space provided.
The unincorporated joint venture example is not tailored to your personal circumstances and may not be suitable. If you wish to use it or modify it, we suggest you call us for details on how best to use it. We have an arrangement with Adam Ahmed & Co lawyers who have agreed to offer a free 15-minute consultation to anyone who has purchased this example. Their number is 02 7200 8200.