Whilst a corporate joint venture offers many benefits, joint ventures can be carried out through limited partnerships, general partnerships and also through contractual relationships. However, creating a joint venture can be a complex undertaking.

The key terms that the parties in a joint venture need to consider when establishing and launch planning a joint venture as a legal entity are set out below and are generally contained in a shareholders’ agreement or a joint venture agreement (JVA), which is essentially the operating agreement for the new entity: