Joint Ventures in Houston
Dedicated Houston Corporate Law Attorney
Joint Ventures are a type of business partnership which can allow small businesses to enter new markets or pool resources with a partner to do things neither entity can do alone. Joint ventures ought to have a binding written venture agreement between the parties involved. You should have your agreement drafted or overseen by a Houston joint ventures attorney from our firm to have access to legal advice and so your rights can be protected.
When your business is ready to take a big step such as going public or acquiring another business, you need to ensure you are legally protected by having a trained attorney come alongside you who understands business law. Whitley LLP Attorneys at Law offers clients trusted legal advice for all manner of business ventures. Attorney Samuel E. Whitley has more than 15 years of legal experience and has been recognized for his professionalism in the Super Lawyers® Rising Stars list.
What should an agreement contain?
A joint venture is essentially a partnership when two or more people or companies decide to do business together while sharing profits and losses. It is always optimal to have a written agreement when forming a partnership in order to hold other parties accountable.
Agreements should include terms such as:
- Ownership percentages
- Business asset sharing and transfers
- Partner investments
- Shares of profits and losses
- Administrative responsibilities
- Duration of the ventures
- How the venture can be terminated
Business laws set at the state and federal level require those involved in a joint venture to respect the duties of loyalty and care regardless if these duties are specifically mentioned in the written agreement Our corporate lawyer is well-versed in these regulations and can help draft an agreement which best reflects your wishes.
Duty of loyalty means joint venture partners work with each other and act with the best interests of the venture in mind. Creating a joint venture may not seem complicated, but taking the time to create one according to state and federal regulations can make for a lengthy and complex process.
We Put Our Experience to work for You
You need legal advice you can trust from a highly-skilled Houston joint ventures lawyer when considering such significant business moves as a joint venture. You can rely on Whitley LLP Attorneys at Law to provide you with the counsel before and during the formulation of such a partnership.