Two or more parties often form a joint venture to undertake a business opportunity together. The joint venture partners typically form a new entity and contribute assets and/or services to the joint venture. They then share the revenues and expenses of the joint venture. Over time, however, the joint venture partners often cease to have the same vision or strategic interest for the joint venture. When this happens, one or more of the joint venture partners will want to exit the joint venture. If the joint venture agreement among the parties does not provide for an exit provision, then a joint venture partner wanting to exit the joint venture may find it very difficult to do so. The following are some exit provisions to consider including when you enter into a joint venture: …click here to read more
