Joint Venture Agreements

Collaborations Built on Clarity, Trust, and Strong Legal Foundations

Understanding Joint Venture Agreements in Australia

Joint ventures can unlock opportunities that would be difficult or impossible to achieve alone. Whether you’re combining capital, expertise, or market access, success hinges on having a clear, well-structured agreement that protects every party and leaves nothing to assumption.

A joint venture (JV) is a legal and commercial arrangement between two or more parties to work together on a specific project or objective while retaining their individual identities. It might be a short-term collaboration to deliver a single project, or a longer-term arrangement to share technology, develop a product, or enter new markets.

At THAMS Law Group, we help businesses of all sizes plan, negotiate, and document joint venture agreements that are both legally watertight and commercially workable. We focus on aligning your agreement with your objectives, defining obligations precisely, and putting in place safeguards to minimise risk.

Our role is to foresee the challenges and ensure they’re resolved in the agreement — before they arise in practic

WHAT WE DO

Types of Joint Ventures We
Advise On

Equity Joint Ventures

In this arrangement, a new entity is formed, and each party holds shares. This is often used when the joint venture involves a long-term project or significant investment.

Contractual Joint Venture

Here, no new entity is formed. Instead, the parties enter into a contractual agreement to collaborate on a specific project or goal, making it ideal for short-term ventures or less complex collaborations.

Partnership Joint Venture

A partnership JV involves two or more businesses working together under a partnership structure. It’s typically used for long-term collaborations where the businesses remain independent but share resources and responsibilities.

Why Legal Advice Is Critical in a JV

Each type has its advantages and risks, and at THAMS Law Group, we help you determine which is best suited to your goals. We’ll guide you through the process of setting up and managing your JV, ensuring that you’re fully protected and positioned for success.

Joint ventures often fail when there’s a mismatch between commercial expectations and legal reality. A strong JV agreement:

  • Creates certainty around rights and obligations.

  • Protects intellectual property and confidential information.

  • Reduces the risk of disputes derailing the venture.

  • Gives each party a clear exit path if things change.

We combine technical legal skill with commercial insight to ensure your JV works in practice — not just on paper.

Practical, Strategic Guidance Through Insolvency and Bankruptcy

At THAMS Law Group, we help businesses and individuals facing financial distress navigate complex insolvency and bankruptcy laws with clarity and confidence.

Our focus is on protecting your interests, minimising risk, and finding the most effective path forward, whether that means restructuring, negotiating with creditors, or winding up in an orderly, compliant way.

FAQs

  • A joint venture agreement is a contract between two or more parties that outlines the terms of their collaboration on a specific business project. It defines roles, contributions, profit sharing, and dispute resolution, ensuring that both parties are clear on their responsibilities and rights.

  • While a partnership typically involves an ongoing business relationship, a joint venture is usually set up for a specific project or goal and can be either short or long term. A JV can also be structured as a new company, which is not typical of partnerships.

  • Joint ventures can pose risks, such as disagreements between partners, financial losses, or failure to meet objectives. A well-structured agreement can help mitigate these risks by clearly outlining roles, responsibilities, and dispute resolution processes.

  • Whether a joint venture needs to be registered depends on its structure. If it’s an equity joint venture that involves forming a new company, it must be registered with the appropriate authorities. Contractual joint ventures, however, do not require registration but must be backed by a legally binding contract.

  • Profits and losses in a joint venture are typically shared according to the contributions made by each party, but this can vary. The joint venture agreement should clearly define how profits and losses will be allocated to avoid any misunderstandings.