Not sure if you need a joint venture agreement? Here are some of the most common questions we are asked: as a rule, two parties set up a joint venture to gain their own individual advantage, which normally derives from the main objectives of the business project they wish to implement. Whatever your purpose for entering into a joint venture agreement, the most important document you should have is a joint venture agreement. If you plan to create a joint venture, you need to know how to create your own joint venture contract template. If you know the benefits of a joint venture agreement as well as the types you may encounter, you should probably consider creating one to improve your business. Before drafting a template for your agreement, we move to the top of the main elements of a joint venture agreement: provision of this agreement where there is a separate agreement with the JVC, including, but not limited to, the license agreement that must be signed between WEBZEN and the JVC (license agreement) which provides for the license of the 3D MU online game (software) by WEBZEN to JVC. In principle, this is the time when two parties agree to work on a single business project or business activity. Both parties would agree on the terms and rules of the Joint Undertaking Agreement and, once the project or activity is completed, the Joint Undertaking will terminate. Before you start creating your own joint venture contract template, let`s first discuss how you would plan your joint venture agreement. Planning would be the first step in setting up a joint venture agreement. You need to take steps to be able to plan your joint venture successfully. The objective of the Joint Undertaking is, within the framework of the common idea of strengthening economic and technical cooperation between the Parties, to provide the operation of online games in China through the subsidiary to be established in China, by providing high-quality online gaming content through professional management and strong marketing, in order to achieve economic development and, therefore, to ensure satisfactory economic development for the parties to obtain economic benefits.
Amendments to this Agreement or to the attached documents shall be valid only if they have been agreed by the Parties, prepared, signed the content of the Agreement in writing, requested from the approval authorities and obtained authorization. Most of the time, the only way to amend a joint venture agreement is for both parties to agree to new terms. Clauses that cover early termination may be included. In this article, you`ll learn all about joint ventures, joint venture agreements, and even the steps and tips for creating your own sample joint venture contract. Read on to know all this relevant information that can be provided for the future. A joint venture itself is not a separate legal entity and is not recognised as such by the supervisory authorities. Joint ventures are carried out by private or legal persons. This Agreement contains the entire agreement and understanding between the Parties and supersedes all prior communications, assurances, agreements and understandings, whether oral or written, between the Parties regarding the subject matter of this Agreement. This Agreement may not be modified in any way except by a written amendment made by each party to this Agreement. The joint venture created by this agreement (the `joint venture`) will operate under the name of [name of joint venture] and will have its registered address at [address]. The Joint Undertaking shall be regarded in all respects as a joint venture between the Parties and, in any event, this Agreement shall not be construed in such a way as to establish a partnership or other fiduciary relationship between the Parties. .