A joint venture is when two or more separate entities collaborate to achieve a common goal, namely forming a commercial arrangement to develop a business.

The structure of the joint venture as well as the rights, responsibilities, and contributions expected from each party will need to be outlined to ensure smooth operation.

As such, the establishment of a joint venture will involve measures such as:

• Choosing a structure suited to the purpose of the joint venture

• Drafting and negotiating the joint agreement

• Assessing and creating strategies to mitigate the associated risks.

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