You can customise LawDepot's Joint Venture Agreement template for one of two different types of business relationships: a contractual joint venture or a general partnership.
In a contractual joint venture, each member maintains separate accounting records and receives an equal distribution of profits and losses. This type of joint venture may also limit the liability of each member in the event of a dispute. Use this template for most business activities, including those involving research or product development.
In a general partnership joint venture, each member shares the profits and losses of their business. With this type of agreement, the members have unlimited liability regarding the partnership or actions taken by members on behalf of the partnership. This form of partnership usually works well for joint ventures in real estate.