Rectifying a commercial contract, how do the Courts do it? If you are the owner of a business, it will be common for you to work with commercial contracts. It is important to note that the terms of a contract do not have to be written down to bind parties...
Joint ventures and collaboration agreements are increasingly popular contractual mechanisms through which businesses can undertake projects, the scale of which might ordinarily have been out of reach of the respective parties, had they wanted to embark upon the activity on their own.
As businesses become more globalised and opportunities arise to enter new industries or markets whose conditions are constantly changing, companies enter such agreements as a way of capitalising on the strength (and mitigated risk) that is afforded by working with another company towards a common goal. The precise advantages of a joint venture will of course depend upon the particular circumstances.It should be noted however, that a joint venture agreement inevitably involves the sacrifice of a degree of control and flexibility from an individual perspective.
BakerLaw’s experience with joint ventures in a variety of industries means that we are able to give advice that not only reflects the technical, operational, financial and of course legal requirements of the venture, but that maintains its focus on the core commercial objectives of our clients.