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JOINT VENTURE

We have been engaged in legal work for more than 10 years and we can carry out due diligence for our clients in order to facilitate decision-making and help them evaluate all opportunities, perspectives, threats and risks that partnership may bring. We also counsel on various aspects of partnership, we draft negotiating positions and represent in negotiations. We help find answers when questions related to the following fields arise:

  • Opportunities of international partnership
  • Violation prevention
  • Defining guarantees
  • Determination of a scope of rights and duties
  • Performance monitoring
  • Legal audit
  • Compensation for damages
  • Disputes
  • Confidentiality
  • Franchises
  • Licensing
  • Distribution, etc.

Two or more entities (partners) undertake to act jointly for a certain purpose notwithstanding the law or for a certain activity under the partnership agreement by joining their assets, work or knowledge. The motivation of such a business model may vary. For instance, contractual parties may have different competences which, when combined, may increase the performance efficiency. This form of activity may help in sharing various risks and increasing profitability as different resources may be combined with respect to the content of the agreement. Partnership may be a perfect alternative of the business start-up or development, because the contractual parties are enabled to share available resources which, if the parties act on their own, may not be sufficient.

However, as every type of agreements, partnership not only opens up new opportunities, but it also stipulates certain obligations for the partners. The conclusion of the partnership agreement leads to inevitable loss of absolute control over the project and flexibility as partners lose the opportunity to make decisions autonomously. In order to make effective decisions later, partnership agreements require especially thorough strategic planning which must be carried out prior to concluding the agreement. In each case, the partnership perspectives must be properly evaluated, project implementation stages have to be determined, obligations and the parties must be defined and rights must be equally shared – only then we can expect that business will be successful.

Contact 
Attorney at Law, Tax Lawyer, Legal Project Manager
Telephone 
+370 5 2691101
Fax 
+370 5 2691010
Mobile 
+370 612 11222
Email 
laimonas.marcinkevicius@juridicon.lt