Joint Venture Operating Agreement
A joint venture operating agreement is a joint venture business agreement which is signed when two or more organizations combine their operations with the purpose of sharing costs and reducing their operating expenses. This sort of agreement helps the companies to operate with less cost and with fewer numbers of employees. There are terms and conditions chalked out whenever such joint venture takes place and these are mentioned in the agreement.
Sample Joint Venture Operating Agreement
This joint venture operating agreement is made as of 10th November 2011 by and among Gas Manufacturers Ltd. Incorporated under the business laws of the state of Arizona with office located at 45 Ton Weight Road, Nebraska, Arizona and Joe Manufacturers Ltd. Incorporated under the business laws of the state of New jersey with address located at 52 Kilo Gram Road, New York, New jersey.
Gas Manufacturers Ltd is a company manufacturing garments where as Joe Manufacturers Ltd manufacturing accessories. Both the parties have agreed to enter into a joint venture to sell both garments as well as accessories without increasing the operating costs.
Both the parties have agreed to few terms and conditions which are as follows:
- Gas Manufacturers Ltd will provide their factory to Joe Manufacturers for manufacturing accessories.
- Gas Manufacturers Ltd will hold a certain percentage of shares of Joe Manufacturers.
- Joe Manufacturers will provide their team for marketing of the products and back office support.
Glenn John Joe Samuel
(On behalf of Gas Manufacturers Ltd) (On behalf of Joe Manufacturers Ltd)
Category: Joint Venture Agreements