Joint Ventures & Business Partnerships
Manufacturing & Technology
Businesses frequently work alongside other businesses for a variety of reasons.
Businesses may simply wish to work together to develop new areas of business to their mutual benefit, although not actually working for each other or sharing any intellectual property. The common law may imply a traditional partnership into any undocumented relationship which involves two or more parties working together with a common view for profit. This carries implied legal duties and responsibilities, which may very well not be desirable for your project. Accordingly, it is common to structure the project in such a way as to avoid an implied partnership, and to set out the respective parties’ obligations and rights in a joint venture agreement.
There may also be distinct advantages to setting up a new company to take such projects forwards, and our corporate team regularly advise in such matters.
When developing new products and technologies, businesses often enter into strategic relationships with other parties that enable both sides to gain an end result which they could not achieve on their own. Such collaborations can be subject to an underlying tension and suspicion that one party is exploiting the other, particularly if the project does not run exactly to plan. A proper collaboration agreement will help to reduce this risk.
Our Commercial Team has substantial experience in acting for a range of clients including manufacturing, science and technology, and pharmaceutical companies (from university spin-offs to large multi-nationals) in such projects, and can help you take research and development work forward properly protected and with confidence.