The Parties hereby agree to form a joint venture (the "Joint
Venture") for the purpose of [Specify the purpose or objective of the Joint Venture, e.g., developing, marketing, and selling a new product]. The Joint Venture shall be conducted under the name of [Joint Venture Name] and shall have its principal place of business at [Business Address].
2. Contributions and Responsibilities
2.1. Party A's Contributions:
Party A agrees to contribute the following resources or assets to the Joint Venture:
[List specific contributions, such as capital, equipment,
intellectual property, or any other resources.]
2.2. Party B's Contributions:
Party B agrees to contribute the following resources or assets
to the Joint Venture:
[List specific contributions, similar to Party A's.]
2.3. Responsibilities:
The Parties shall share responsibilities as follows:
[List specific roles and responsibilities for each Party in the
Joint Venture.]
3. Management and Decision-Making
The management of the Joint Venture shall be conducted by a
[Specify the number, e.g., three-member] management committee, consisting of [Specify names of committee members]. Decisions shall be made by a [Specify voting mechanism, e.g., majority vote] of the committee members.
4. Profits and Losses
Profits and losses of the Joint Venture shall be distributed in
accordance with [Specify the profit-sharing arrangement, e.g., each Party's percentage of ownership].
5. Confidentiality
The Parties agree to maintain the confidentiality of all Joint
Venture information and not disclose such information to third parties without the written consent of all Parties.
6. Term and Termination
The Joint Venture shall commence on [Start Date] and continue
until [End Date] or until terminated by unanimous written agreement of the Parties.
7. Dispute Resolution
In case of disputes related to this Agreement or the Joint
Venture, the Parties agree to [Specify dispute resolution mechanism, e.g., mediation, arbitration, etc.]. 8. Governing Law
This Agreement shall be governed by and construed in
accordance with the laws of the state of [State], without regard to its conflict of laws principles.
9. Entire Agreement
This Agreement constitutes the entire agreement between the
Parties and supersedes all prior understandings, agreements, representations, and warranties.