Joint venture schemes

Description

This Skill Bit shows that the Joint Venture Scheme is a strategic collaboration where entities form a new entity for project execution. Partners pool resources, expertise, and risks, aiming for shared project success. Key agreements include the Principal-Joint Venture Agreement, detailing project execution, and the Joint Venture Agreement, outlining partner roles and profit/loss sharing. Principles like Joint & Several Liability and Profit & Loss Sharing are crucial. This scheme offers a collaborative framework, requiring detailed planning to balance risks and rewards for project success.

Duration approx. 5 Min.

Tier: basics