An association for joint venture agreement is a legal document drafted when two or more parties enter into a business agreement. The document helps to establish the fact legally that the parties have agreed into a certain business agreement. There are certain details mentioned in the agreement which helps to understand the contribution and share of the parties agreeing to enter into the joint venture business.
The details stated in an association for joint venture agreement are as follows:
- The kind of joint venture business that the parties are agreeing to enter into.
- The percentage or amount of capital that each of the parties agree to contribute in the business.
- The stake or the percentage of shares held by each of the parties
- The percentage or ration in which revenue and expenses are going to be shared by the parties
- The terms under which the agreement can be terminated
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