If you enter into a financial or commercial agreement, or other form of professional collaboration, it is known as a joint venture. Joint ventures are a great way to combine knowledge and expertise to form a business, but there are certain risks involved. As different personalities and visions meet, conflict can arise as individuals disagree over elements such as the direction of the company and finances. When disputes become too hard to solve in-house, it is recommended that you seek dispute resolution provided by a qualified litigation solicitor.
Here at Van Eaton Solicitors in Streatham Hill, we have years of experience in a wide field of complex legal areas. We can help parties involved in a joint venture (JV) dispute settle their claim effectively, providing expert legal advice and helping them build their case from the ground up. If you are involved in a joint venture and you are worried about a dispute that has emerged or your suspect illegal activity, do not hesitate to get in touch with us today…
What is a Joint Venture?
A joint venture is a business or professional entity created by two or more parties, characterised by shared or part ownership. Common forms of joint ventures include shareholder agreements in limited companies, Limited Liability Partnerships (LLPs) or traditional partnerships under the Partnership Act 1980. Legal documents will usually be signed before a venture takes place in order to have all aspects protected by law, including a Joint Venture Agreement (JVA). This is put in place to help stop joint venture disputes from occurring in the first place, and it should document each party’s share, responsibilities and roles within the business, as well as exit arrangements.
What Are the Common Disputes?
Despite the presence of a JVA, disputes can still arise between the parties. Failure to draw up a JVA can make you more susceptible to a business dispute, so JVAs can help you protect your position, though disagreements may still need legal attention. Those that embark on joint ventures can encounter disputes for a number of reasons, such as:
- Disagreements over shares in the business
- The level of effort and commitment shown by the parties
- Disputes concerning the direction of the business
- Deciding whether a new party can enter the business
Most disputes can be resolved in-house through general meetings, as some individuals may simply need to air their differences and come to a solution that works for all parties involved. However, discussions can become contentious, and before making any major decisions, you should seek legal advice to ensure all steps being taken are completely lawful. To find out more about our services, you can visit us here.
How Civil Litigation Solicitors Can Help
Here at Van Eaton, our civil litigation solicitors have years of experience in various areas of law. From commercial property disputes to contentious probate cases, we provide all of our clients with expert advice, helping them build their claims effectively and efficiently. We can implement alternative dispute resolution such as mediation to keep your claim out of court wherever possible.
To find out more, or to book a free consultation, please give us a call on 0208 769 6739. Alternatively, you can fill out our online contact form here.