A corporate joint venture contract is a legal document signed between two corporate houses where they come together to set up another company, thereby sharing profits, minimising risks and making a stronger position in the market. Both companies invest an amount in the new company formed through joint venture and fix a ratio on the basis of which they share the revenues the company makes.
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Sample Corporate Joint Venture Contract:
This joint venture contract is made and entered on the 28th of August by and between the following parties:
INFORMATION ABOUT COMPANY NUMBER 1
Name: New Tech
Address: 311 Airport Road, Arlington
Contact number: 6827496078
INFORMATION ABOUT COMPANY NUMBER 2 DETAILS
Name: Software Services Inc
Address: Silicon Towers, Seattle
Contact number: 2069607856
JOINT VENTURE DETAILS
Name of company: New SoftTech
Address: 206 Sunny Towers, Seattle
Contact number: 20694867365
TERMS AND CONDITIONS:
- The two parties, namely, New Tech and Software Services Inc, hereby declare the formation of a joint venture company New SoftTech which will have its principal office in Seattle.
- This new company shall take the expertise of both the principal stakeholders and bring out new products in the field of technology.
- New Tech shall invest a sum of $100,000 to the joint venture and Software Services 2 shall also contribute a sum of $100,000 to the joint venture.
- Profits from the joint venture company will be shared between New Tech and Software Services in a 2:1 ratio.
Signature: Joey Tanner
Designation: CEO, New Tech
Signature: Jesse Gonzales
Designation: CEO, Software Services