A joint venture may also be dissolved by judicial dissolution. Under the law, a court may grant a judicial dissolution for the following reasons[v]: When a joint venture is concluded, some parties may already have opinions on the circumstances leading to termination and the date of termination. For example, some parties may enter into a joint venture project to carry out a specific project and, therefore, the joint venture should be completed as soon as the project is completed. Others may agree that the joint venture will have a fixed deadline at the end of the joint venture. Moreover, the express intention of the parties may be to realize their participation in the joint venture within a specified period, either by the sale of the entire joint venture (JVC) to a third party or by the transfer of the GUC on a stock exchange. Any form of joint venture (a separate legal or legal entity) may be between any number of parties, but if there are more than two parties to the joint venture agreement, there is an increased risk of litigation, so it is preferable to take technical legal advice and enter into a detailed agreement. These documents should detail the specific terms and definitions that will be amended or expanded to make the change legally binding. For the amendment to be legally binding, all parties to the joint venture must either sign the supplement or follow the procedure for amending joint ventures in accordance with the original agreement. It is equally important that each addendum is correct, as it is, to correctly establish the terms of the original agreement. A joint venture agreement can be entered into between individuals, partnerships, limited partnerships (PPs) and limited partnerships. The agreement can also be very flexible, as it can be between one or two people or between two partnership companies. Josh Kwicinski is Senior Director at Water Street Partners, where he oversees clients in joint venture transactions and governance issues in the natural resources, industry and high-tech fields.

A consortium is a group of two people, companies or entities or entities with the objective of participating in a joint activity or pooling their resources to achieve a common goal. A consortium is usually formed by an agreement or memorandum of understanding. An essential feature of a consortium is that members retain their own legal status. Consortia can be formed to make an offer more attractive to third parties. We are often asked to advise on the most important issues that need to be considered when a party is considering terminating a joint venture.