Understanding partnerships / joint ventures:
A Partnership or Joint Venture is a cost effective and flexible structure to pool the various resources and expertise of parties and to share the risk and liability of any business venture. a Partnership does not create a separate legal person and each partner is taxed on his or her share of the partnership profits.
A Partnership or Joint venture may be formed by oral agreement. It is, however, always advisable that such an agreement be recorded into a written agreement so to avoid any disputes down the line.
Our Firm’s Commercial Department, under leadership of Lucas Landman, shall be able to assist you with all the legal requirements of a Partnership, including the preparation and drafting of a Partnership/Joint venture agreement, which shall be tailormade for each client’s unique and special requirements.