Love... the joint venture relationship

In the business world, joint ventures really can be described as a great business love story.

Joint ventures offer the joint venturing partners a range of benefits including:

• each party gaining access to additional resources as they come together to pursue a mutual and specific goal;
• the ability to win and complete projects which each party may not have had the resources to complete on their own;
• increased resources leading to an increased market share;
• the sharing of risks and costs; and
• accessing increasing opportunities for growth, including financial growth.

While joint ventures can offer great rewards to the joint venturing partners in the right circumstances, they are not without risk. 

That's why it is imperative that the joint venture arrangements are appropriately discussed and documented at the outset of the relationship, while love is young, optimism reigns supreme and the roses smell sweet.

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