Unincorporated Joint Venture Agreement for the United States
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Unincorporated Joint Venture Agreement
"I need an Unincorporated Joint Venture Agreement for a collaboration between my tech startup and a manufacturing company to develop and produce smart home devices, with an initial term of 3 years starting January 2025 and equal profit sharing."
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1. Parties: Identification and details of all joint venture participants
2. Background/Recitals: Context of the joint venture and parties' intentions
3. Definitions: Key terms used throughout the agreement
4. Scope and Purpose: Defined objectives and scope of the joint venture
5. Contributions: Parties' initial and ongoing contributions (capital, assets, services)
6. Management Structure: Governance framework and decision-making processes
7. Profit and Loss Sharing: Distribution of profits and allocation of losses
8. Term and Termination: Duration and circumstances for termination
9. Governing Law: Applicable law and jurisdiction
1. Non-Compete: Restrictions on competitive activities - used when parties operate in same/similar markets
2. Intellectual Property Rights: IP ownership and licensing arrangements - used when JV involves creation or use of IP
3. Employment Matters: Staff arrangements and responsibilities - used when JV will have employees
4. Foreign Operations: International business considerations - used for cross-border ventures
5. Insurance: Required insurance coverage - used when specific risks need coverage
1. Business Plan: Detailed operational and strategic plans
2. Initial Contributions Schedule: Itemized list of each party's contributions
3. Management Procedures: Detailed governance procedures
4. Budget: Initial and projected financial plans
5. Asset Register: List of JV assets and ownership details
6. Service Level Agreements: Performance standards for services provided
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