What are the requirements for a joint venture?
What are the conditions for a joint venture?
A joint venture is a combination of two or more parties that seek the development of a single enterprise or project for profit, sharing the risks associated with its development. The parties to the joint venture must be at least a combination of two natural persons or entities.
An agreement (written or oral) between the parties manifesting their intent to associate as joint venturers.
Mutual contributions by the parties to the joint venture.
Some degree of joint control over the single enterprise or project.
A mechanism or provision for the sharing of profits or losses.