Sometimes, companies decide to join their skills to design, build, create, produce, market, in general, develop any project that gives them competitive advantages over other companies, the above, considering the costs involved in the project and preserving, each Company, its autonomy, and identity.
Currently, within the latest trends that entrepreneurs use to strategically associate, is the “Joint Venture”, whereby the parties join together temporarily, in the short, medium or long term, acting under the same direction and rules to carry out a commercial transaction.
The main advantage of the “Joint Venture” is that it allows the parties to retain their individuality and legal independence so that the partners can continue to operate their businesses or companies independently because the “Joint Venture” is another business.
This way we can establish that the most important features of the “Joint Venture” Contract are that companies:
- Share benefits, efforts, responsibilities, and risks.
- Control business collaboration.
- They have a common purpose.
- They combine their knowledge, skills, and resources.
- Contribute to losses, profits, functions, and investments.
- Make money, goods, personnel, technology, services, strategies contributions, among others.
- They keep their individuality, without being considered as a merger.
In Bandala, Díaz, García, we are concerned with preventing our Clients from bad negotiation, advising them to avoid any future risk or controversy; so, if you want to join your skills with an individual or a legal entity, we put ourselves at your service in order to provide you with our corporate legal services and, in that way, define a “Joint Venture” Contract, according to your business needs.