Docstoc Legal Agreements
This Joint Venture Agreement is used when two or more individuals or business entities
combine or collaborate on a particular project or undertaking. It specifies each party's
percentage of ownership and the joint venturers' rights and duties. Details relating to
indemnification, dissolution and an arbitration clause are also specified in the agreement.
This document in its draft form contains many of the standard provisions commonly found
in a joint venture agreement and may be customized to fit the needs of the contracting
parties. This agreement should be used when individuals or companies located in
Wisconsin collaborate to form a joint venture.
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JOINT VENTURE AGREEMENT
THIS JOINT VENTURE AGREEMENT (hereinafter "Agreement") is made on _____ [Month]
_____ [Date], 20_____ [Year] by and between ________________________ [Instruction:
Insert the name of first company/corporation], having address at
________________________ [Instruction: Insert the address of first company/corporation]
(hereinafter â€œFirst Joint Venturerâ€) and ________________________ [Instruction: Insert the
name of second company/corporation], having address at ________________________
[Instruction: Insert the address of second company/corporation] (hereinafter â€œSecond Joint
Venturerâ€). First Joint Venturer and Second Joint Venturer may individually be referred to as
â€œPartyâ€, or collectively as â€œPartiesâ€.
WHEREAS, The Parties wish to make contributions to a common fund for the purpose of
acquiring and holding:
[Instruction: Insert the type of business interest] called the â€œBusiness Interestâ€; and
WHEREAS, the Parties wish to form a joint venture (hereinafter â€œJoint Ventureâ€) under the
laws of Wisconsin by execution of this Agreement for the purpose set forth herein, and wish to
fix and define between themselves their respective responsibilities, interests, and liabilities.
NOW THEREFORE, in consideration of the mutual covenants and promises herein
contained, the Parties agree to constitute themselves for the purposes before mentioned and
intending to be legally bound hereby, agree as follows:
1. GENERAL PROVISIONS
The Parties form this Joint Venture to acquire and hold the Business Interest in common
and to provide the finances required for its acquisition. Each Party shall own an
undivided fractional interest in the business.
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b. Term of the Agreement
This Joint Venture shall commence on the date first above written and shall continue in