Joint ventures and business partnerships

A joint venture is a contractual agreement between two or more businesses to pool their resources and expertise to achieve a particular goal. They also share the risks and rewards of the enterprise.

Businesses may form a joint venture for many reasons, including business expansion, new product development or moving into new markets, especially overseas. However, building the right relationship can be challenging and may require significant time and effort. It is important to carefully consider the advantages and disadvantages of joint ventures.

This guide describes the main types of joint venture. It helps you plan your joint venture relationship and create a joint venture agreement.

You can use our joint venture checklist to help you find the right partner, decide on a legal structure and plan an exit strategy for when your partnership ends.