Dedicated Houston Business Attorney
Joint Ventures are a type of business partnership which can allow small
businesses to enter new markets or pool resources with a partner to do
things neither entity can do alone. Joint ventures ought to have a binding
written venture agreement between the parties involved. You should have
your agreement drafted or overseen by a Houston business attorney from
our firm to have access to legal advice and so your rights can be protected.
When your business is ready to take a big step such as going public or
acquiring another business, you need to ensure you are legally protected
by having a trained attorney come alongside you who understands business
law. Whitley LLP Attorneys at Law offers clients trusted legal advice
for all manner of business ventures. Attorney Samuel E. Whitley has more
than a decade of legal experience and has been recognized for his professionalism in the
Rising Stars list.
What should an agreement contain?
A joint venture is essentially a partnership when two or more people or
companies decide to do business together while sharing profits and losses.
It is always optimal to have a written agreement when forming a partnership
in order to hold other parties accountable.
Agreements should include terms such as:
- Ownership percentages
- Business asset sharing and transfers
- Partner investments
- Shares of profits and losses
- Administrative responsibilities
- Duration of the ventures
- How the venture can be terminated
Business laws set at the state and federal level require those involved
in a joint venture to respect the duties of loyalty and care regardless
if these duties are specifically mentioned in the written agreement Our
Houston business lawyer is well-versed in these regulations and can help
draft an agreement which best reflects your wishes.
Duty of loyalty means joint venture partners work with each other and act
with the best interests of the venture in mind. Creating a joint venture
may not seem complicated, but taking the time to create one according
to state and federal regulations can make for a lengthy and complex process.
We Put Our Experience to work for You
You need legal advice you can trust from a highly-skilled Houston business
lawyer when considering such significant business moves as a joint venture.
You can rely on Whitley LLP Attorneys at Law to provide you with the counsel
before and during the formulation of such a partnership.
We take your business seriously, so
reach out to our firm for your case evaluation today!