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
Maryland 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 an address of
________________________ [Instruction: Insert the address of first company/corporation]
(hereinafter “First Joint Venturer”) and ________________________ [Instruction: Insert the
name of second company/corporation], having an address of ________________________
[Instruction: Insert the address of second company/corporation] (hereinafter “Second Joint
Venturer”). First Joint Venturer and Second Joint Venturer may individually be referred to as
“Party”, or collectively as the “Parties”.
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 “Business Interest”; and
WHEREAS, the Parties wish to form a joint venture (hereinafter “Joint Venture”) under the
laws of Maryland 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.
b. Term of the Agreement
This Joint Venture shall commence on the date first above written and shall continue in
existence until terminated, liquidated, or dissolved by law or as hereinafter provided.
2. GENERAL DEFINITIONS
The following comprise the general definitions of terms utilized in this Agreement:
© Copyright 2011 Docstoc Inc. registered document proprietary, copy not 2
An Affiliate of an entity is a person that, directly or indirectly through one or more
intermediaries, controls, is controlled by, or is under common control of such entity.
b. Capital Contribution(s)
The capital contribution(s) to the Joint Venture actually made by the Parties, including
property, cash, and any additional capital contributions made.
c. Profits and Losses
Any income or loss of the partnership for federal income tax purposes determined by the
partnership's fiscal year, including, without limitation, each item of partnership income,
gain, loss, or deduction.
3. OBLIGATIONS OF THE JOINT VENTURERS
________________________ [Instruction: Insert the name of party/
company/corporation which is responsible for all operations and decisions of the Joint
Venture] is responsible for all operations and decisions of the Joint Venture and will be
compensated for providing various services.
Profits and Losses
Commencing on the date hereof and ending on the termination of the business of the J