Importance of Joint Venture Agreement
A joint venture (JV) contract is filed by a crew of people or companies to venture into business together or to partner on a specific assignment without ruining their respective legal status. This contract precisely binds both the parties legally and defines the scope of mutual effort and disparity, and facilitates provisions for sharing the gains and enterprising operations. Generally, before getting into a legal contract such as this, the consenting groups roll out an MoU.