Negotiating Joint-Venture Management Provisions: A Primer
January 14, 2014, 3:11 PM EST
Law360, New York (January 14, 2014, 3:11 PM EST) -- The management provisions are among the most important and heavily negotiated terms of the joint venture agreement. Regardless of the form of the joint venture, the co-venturers must establish a management vehicle to run the day-to-day activities of the business. The management vehicle may take a variety of forms:
Corporation. A corporate joint venture will have a board of directors whose operations will be governed by the relevant state statute. Counsel should consult the relevant statute, which may have certain requirements for how board members are...