Bored of Boards? Understanding Creative Structuring of Joint Venture LLCs

Parties come together to form joint ventures when all involved believe that they will have greater success working cooperatively on a specific project, product, or business than they would have if they each undertook the endeavor on their own. More often than not, each of the parties individually lacks all of the requisite practical knowledge, resources, and/or funding for the venture's success. Check out this new comprehensive template for a managing member-managed styled LLC agreement. The template, including drafting notes and alternate and optional clauses, provides a robust framework for structuring and governing joint venture limited liability companies (LLCs). It addresses critical aspects such as capital contributions, management and control, profit and loss allocations, distribution rights, transfer restrictions, and exit mechanisms.

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Related Content

• Preliminary Agreements in Joint Ventures
  Discover preliminary agreements for setting up joint ventures, including letters of intent and confidentiality agreements.

• Joint Venture Resource Kit
  Get an overview of various aspects of joint venture transactions and links to practice notes, template documents and clauses, checklists, and charts relating to joint ventures in Practical Guidance.

• Key Provisions in Joint Venture Agreements
  Review this comprehensive practice note addressing the key provisions in joint ventures, whether formed as a partnership, corporation, or limited liability company.

• Operating the Joint Venture
  Explore this discussion of the use of additional ancillary agreements by co-venturers in operating a joint venture.

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