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Simple Joint Venture Agreement
"I need a Simple Joint Venture Agreement for a technology partnership between my software development company and a data analytics firm, where we'll be combining our expertise to create a new AI product, with an expected launch date of March 2025."
1. Parties: Identification and details of all parties to the joint venture
2. Background: Context and purpose of the joint venture arrangement
3. Definitions: Key terms used throughout the agreement
4. Business of the Joint Venture: Scope and nature of the joint venture's activities
5. Capital Contributions: Initial and ongoing financial/asset contributions by each party
6. Management Structure: Governance and decision-making processes
7. Profit Sharing: Distribution of profits and losses between parties
8. Term and Termination: Duration and circumstances for ending the joint venture
1. Intellectual Property Rights: IP ownership, licensing arrangements and protection of background/foreground IP
2. Employment Matters: Staff transfer, employment terms and allocation of employment liabilities
3. Non-compete Provisions: Restrictions on competitive activities during and after the joint venture
4. Exit Mechanisms: Procedures for party withdrawal, buyout options and consequences of exit
1. Business Plan: Detailed operational and financial projections for the joint venture
2. Asset Register: Comprehensive list of assets contributed by each party to the joint venture
3. Service Level Agreements: Performance standards, metrics and service requirements between parties
4. Initial Budget: Financial planning, resource allocation and capital requirements
5. Shareholder Rights: Detailed voting rights, ownership structure and shareholder obligations
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