Joint Venture Agreement
This template outlines a Joint Venture Agreement between two parties, referred to as "Members," who agree to share risks and responsibilities in a new venture. It provides sections for defining the business purpose, detailing member contributions and duties, and establishing the management structure. The document includes placeholders for specific clauses and requires witness signatures for execution.
Joint Venture Agreement
On this [date], [name of first party] and [name of second party], hereafter known collectively as “Members,” do hereby agree to enter jointly into a venture in which risk and responsibility will be shared, as is described below. This contract will be executed and considered binding on [date 1].
It is understood that Members are able to enter into this agreement by the laws of [state], and that no party has any knowledge of interfering conditions. To the best of their knowledge, Members claim their freedom to enter into these agreements and to meet all the conditions below.
The venture to be formed will be called [name]. It will be formed to conduct the following business: [list business purpose explicitly]. Certain matters concerning the nature of this purpose have been discussed by the Members, and it has been agreed that the method by which this business will be conducted will be [describe how business will be accomplished].
Risks and responsibilities in this venture will be shared. It has been agreed that [list responsibilities of each member]. Each member will contribute financially to this venture by [explain what duties each member has to the venture]. Payment will be furnished by [explain how payment will be managed, and by whom].
Management of this venture will be shared between the members. Executive decisions will be distributed as follows: [describe how decision-making will be managed].
Additionally, the following clauses apply:
[first clause]
[second clause]
[third clause]
This document has been read and its signing witnessed by two witnesses, whose statements lie below. By signing this document, all parties agree to all statements held therein.
I, [name of first party], on this date of [date 2], bear witness to this joint venture agreement. I am over the age of 18 and legally capable of bearing witness to this agreement.
I, [name of second party], on this date of [date 3], bear witness to this joint venture agreement. I am over the age of 18 and legally capable of bearing witness to this agreement.
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[name of first party] |
| [date 4] |
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[name of second party] |
| [date 5] |
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This version is drafted for US law generally. Contract, employment and consumer rules vary by state — for example on non-competes and at-will employment. Tell GitLaw which state applies and it adjusts the draft.
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