![]() ![]() What are the future needs of your individual businesses and joint business venture?.What legal liabilities, tax implications, and costs will you incur?.Who has liability over actions made in the business venture, and how will liability be assigned to each party?.Who has ownership over the intellectual property created in the business venture?.How will the business venture end, and how can parties leave the business relationship?.How will confidentiality be maintained?.How flexible does the commercial relationship need to be?.How will profits and assets accrued from the business venture be shared between parties?.How will the business venture be funded?.How long will the commercial relationship be?.What is the structure of the commercial relationship?.What is the objective of the business venture?.What type of business venture do you intend on undertaking?. ![]() By considering these questions, with the assistance of legal and financial advisers, you can set your business and commercial relationship up for success. This article explores how you can set up a business structure that will best facilitate your joint business ventures success.īefore commencing any business venture with another party, it is essential that you consider the following questions. One of the most efficient and cost-effective methods of pursuing new business concepts and strategies is where a group of entities carry on a business together with a view to profit. ![]()
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