JOINT VENTURE RELATIONSHIP Clause Samples
The Joint Venture Relationship clause defines the legal and operational framework between parties collaborating on a specific business project or enterprise. It typically clarifies that the parties are entering into a joint venture rather than forming a partnership or merging their businesses, and outlines the scope, contributions, and shared responsibilities of each party. This clause is essential for delineating the boundaries of the relationship, ensuring that liabilities, profits, and decision-making authority are clearly allocated, and preventing misunderstandings about the nature of the collaboration.
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JOINT VENTURE RELATIONSHIP. Except as provided in this Agreement, the parties shall share all benefits, costs, expenses, liabilities and obligations in respect of the Joint Venture severally in proportion to their respective Participating Interests at the time that such benefits, costs, expenses, liabilities and obligations were earned, received or incurred, as the case may be. The parties agree that the relationship between them shall be governed solely by the provisions of this Agreement.
JOINT VENTURE RELATIONSHIP. This joint venture agreement is not a contract, and JVP is not a contractor to NTIS. In turn, this joint venture agreement is not governed by the Federal Acquisition Regulations (FAR).