Joint Venture Contracting can provide contractors with business opportunities for which a single entity may not qualify such as federal set-aside programs or certain challenging projects which need additional resources; joint ventures can also be useful for sharing risks among participants or employing specific project delivery methods. If you are considering entering into a joint venture agreement with another contractor, you need the knowledge and experience of the Cobb Law Group to help you balance your business and contracting goals in such areas as risk allocation, operational and internal management issues, as well as the default provisions and remedies.
When two or more parties come together to jointly build a project, their attorney needs to act a strategic partner for the firms coming together. The Cobb Law Group serves in this capacity as we listen to the participants to create the documentation to promote a successful project.
Joint ventures and teaming agreements have many advantages for the contractors as well as for the project owners and developers. When two or more contractors team up on a project, they bring their unique skills and knowledge to the project; they also bring their unique company culture and practices. A proper agreement helps to mitigate the differences in the ways the participant’s handle their business and strengthen the combination of skill-sets and management expertise. Thus, a joint venture may result in the formal creation of a new business entity or it may be structured more like a partnership. Either way, it is necessary that the parties agree in advance about funding and payment issues, project accounting, employee management, subcontractor management, and–perhaps most importantly–their rights and remedies in the event of a dispute between the participants.
Our practice includes decades of construction contract drafting experience and a thorough knowledge of business and management, our attorneys can help you create joint venture agreements that succeed and help your business’ bottom line so that, together, we can solve potential problems through carefully crafted agreements that anticipate the JV’s Executive Committee, Project Managers, termination and distribution of profits or other assets and reports and responsibilities. Of course, we also stand with our clients in the event that a joint venture agreement is breached or if obligations are not met as we are as comfortable litigating construction contracts as we are drafting them.
For further information on joint ventures and our approach to building teamwork, please click on the following articles:
- Joint Venture Agreements (Part I)
- Joint Venture Agreements (Part II)
- Joint Venture Agreements (Part III)
- Joint Venture Agreements (Part IV)
- Joint Venture Agreements (Part V)
If you are looking for a law firm to help your business with its joint venture proposals, projects, and problems anywhere in Georgia, please contact the Cobb Law Group today.