Business contractsAgreement
Joint venture agreement template
Two businesses working together on one project need to agree who brings what, how decisions are made, how costs and profits are shared, who owns what is created, and how it ends. This contractual joint venture covers it.
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Who signs
- First party (you)
- Second party
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Joint Venture Agreement
This agreement is made on 24 October 2026 between Meadow Architecture Ltd and Stonebridge Developments Ltd (the "Parties").
1. Purpose
The Parties will work together for designing, building and selling six eco-homes on the plot at Low Farm, Kendal (the "Project"). The joint venture is limited to the Project.
2. Contributions
- Meadow Architecture Ltd will contribute full architectural design, planning applications and design supervision during construction.
- Stonebridge Developments Ltd will contribute the land, project finance of up to GBP 2,100,000 and construction management.
3. Costs and profit
project costs are paid from the venture account funded by the second party, and repaid from sale proceeds before profit is shared. After costs are repaid, profit from the Project is shared 35% to the first party and 65% to the second party. Losses are shared in the same proportions, unless caused by one Party's breach.
4. Management
A steering group of two representatives from each party manages the Project and meets at least monthly. Day-to-day decisions are made by the Party responsible for that work. These decisions need both Parties' written agreement: the budget and any increase above 5%, the sale prices, and any contract above GBP 50,000.
5. Money
All Project money passes through a dedicated project account requiring one signatory from each party for payments above GBP 10,000. Each Party may inspect the account and Project records at any time, and a statement is shared monthly.
6. Intellectual property
Each Party keeps the intellectual property it brings to the Project. Work created for the Project is licensed to both Parties for the Project only, without charge.
7. Deadlock
If the steering group cannot agree on a reserved decision within 14 days, the issue goes to each Party's chief executive. If they cannot agree within a further 14 days, the Parties will try mediation before any other action.
8. Relationship
The Parties are independent. Nothing in this agreement makes them partners, and neither may make commitments for the other except as agreed in writing.
9. Timetable and ending
The Parties aim to complete the Project by 31 December 2028. The joint venture ends when the Project is complete and profits are distributed, when both Parties agree, or if one Party becomes insolvent or materially breaches this agreement and does not fix it within 30 days.
10. Confidentiality
Each Party will keep the other's confidential information private and use it only for the Project.
11. Governing law
This agreement is governed by the law of England and Wales.
Signatures
For Meadow Architecture Ltd: Signature · First party Date: Date · First party Name: Name · First party
For Stonebridge Developments Ltd: Signature · Second party Date: Date · Second party Name: Name · Second party
These templates are general starting points, not legal advice. Laws differ between countries and states: check that a template suits your situation, or ask a lawyer, before you rely on it.
About the Joint venture agreement template
A joint venture lets two businesses combine what each does best for a specific project, without merging. This template creates a contractual joint venture: the parties work together under this agreement, without setting up a new company. That suits a defined project with a natural end, like a development, a product launch or a bid for a large contract.
It sets out what each party contributes, how costs are paid and recovered, and how profit is split. Decisions go through a small steering group, with the most important ones requiring both parties to agree. Money moves through a dedicated account with dual signatories for larger payments, which is the single best protection against misunderstandings.
It also covers what each brings and what is created: each keeps the intellectual property it brought, and work created for the venture is licensed to both for the project. A deadlock procedure and a clear list of ways the venture ends complete it. For a long-running venture with shared employees or outside investment, a joint venture company with a shareholders' agreement is usually the better structure.
- Signers
- 2
- Signing fields placed
- 6
- Details to fill in
- 13
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Questions
Is a joint venture a partnership?
It can be treated as one if it is not set up carefully. This agreement states the parties are not partners and neither can bind the other, but how you act matters too. Take advice on tax and liability.
What happens if the parties disagree?
Reserved decisions need both parties. If they cannot agree, section 7 escalates the issue to senior executives and then to mediation before anything else.
Who owns the designs or products created?
Each party keeps what it brought. Work created for the venture is licensed to both for the project; anything else needs a separate agreement.
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