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Joint Venture Agreements 2018-12-28T22:08:18+00:00

Joint Venture Agreements

Experienced Surrey Joint Venture Agreements Lawyer

Serving Greater Vancouver and Surrey

A joint venture is an enterprise created for a specific business project or commercial activity that is jointly owned by two or more distinct entities. These companies will share the risks, returns and responsibilities for governance. Joint ventures are normally short-term arrangements and differ from partnerships. A partnership forms a single business entity that is owned by two or more persons. Partners can, therefore, act on behalf of each other because they share the same interests. On the other hand, joint ventures are merely formed to pool resources and each party still acts independently.

Every joint venture will need a joint venture agreement. The joint venture agreement is the most crucial document you will need as it clearly outlines the objectives of the joint venture, the rights, and obligations of each entity. The joint venture agreement also states the initial contribution each entity will be required to make and how profits and losses will be shared. Additionally, all joint venture agreements must include the scope in which the joint venture will operate, how it will be managed and what must happen after the joint venture ends.

As with all legal contracts, it is important that you create a joint venture agreement carefully. Having a joint venture agreement that is badly drafted could open you up to litigation in the future. If you want to avoid issues with your agreement, you should consider hiring a joint venture agreement lawyer.

Joint venture agreement lawyer in Surrey

Are you are looking for a lawyer in Surrey to help with a joint venture agreement and guide other decisions? If yes, give us a call at Nirwan Law Corporation. At Nirwan Law Corporation, we will help you to ensure your rights are protected and your best interests are served in a joint venture agreement. So, what are you waiting for? Give us a call today to schedule a meeting with our joint venture agreement lawyer.

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F.A.Q

What does Limited Liability mean? 2018-07-19T23:05:39+00:00

Limited Liability occurs when a company is incorporated. A primary advantage to incorporating a business is the limited liability conferred upon its shareholders. The shareholders are not liable, in most cases, for the debts and other obligations of the corporation. A shareholder’s liability for the debts of the corporation is limited to the amount of funds the shareholder has invested in the corporation. Creditors only have rights against the corporation itself and not against the shareholders.

What is a Corporation? 2018-07-19T23:05:10+00:00

A corporation is a legal entity that has its own legal personality which is distinct from its owners (called shareholders) and the individuals who manage and run its affairs and business (called directors and officers). The creation of a corporation occurs following the proper filing of Articles of Incorporation (also called a Charter, Certificate of Incorporation or Letters Patent) with the relevant government department or authority.

Every corporation is comprised of shareholders, directors and officers. Shareholders, as the name implies, are the ones who hold (i.e., own) the shares in the corporation. By reason of the votes that are usually attached to the shares, the shareholders control the corporation. If there is only one shareholder, that person has absolute control of the corporation. If the corporation has numerous shareholders, control of the corporation depends on who has a majority of the voting shares. However, the shareholders do not directly manage the corporation. They exercise their influence by electing and removing directors and approving or disapproving major corporate decisions.

When should I contact a lawyer regarding purchasing a home? 2018-07-19T23:04:32+00:00

When purchasing a home you should contact a lawyer as soon as possible. Once a lawyer is involved, they can start working to protect the purchaser’s interests. “Buyer Beware” is still the law in BC. Be sure to check the home you are planning to buy very carefully. In other words, be sure to do your due diligence investigations. As your real estate lawyers, we will ensure property taxes are up-to-date and no claims are listed against the property.

Do I need a Lawyer to buy/sell my home? 2018-07-19T22:58:08+00:00

Real estate layers oversee the process of buying or selling property to ensure the interest and right of clients are preserved.  The purchase of a home is one of the biggest investment most of us will ever make.  Real estate closing is a complicated legal process involving the execution of many legal documents which have significant financial implications. You want to protect your investment. A purchaser’s lawyer goes over the agreement of purchase and sale to make sure the buyer is protected. The lawyer checks title, or chain of ownership of the property, for any problems or liabilities such as liens.  All mortgage loan documents and legal papers are verified for the purchaser. A seller’s lawyer will check the agreement of purchase and sale to protect the seller and address any title issues that arise, arrange for final payoffs for existing loans and prepare the necessary documents to transfer ownership of the property. As your real estate lawyers, we will examine all of the closing documents on your behalf to make sure your rights are protected.

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209-15240, 56th Avenue,
Surrey, B.C. V3S5K7

Phone: 1.604.372.0253