Sign a joint venture agreement if you intend to pool resources with another company in order to pursue a common goal, in particular if sensitive information or profit-sharing agreements are involved. A joint venture agreement, also known as a joint venture agreement, is used when two or more business entities or individuals establish a temporary business relationship (joint venture) to achieve a common goal. A joint venture contract is a contract between two or more parties who wish to do business together for a given period of time. Instead of creating a formal partnership or new legal entity, a contractual joint venture (“JV”) allows parties to continue to submit their tax returns separately while enjoying the financial benefits of a partnership such as resource and risk sharing. Planning would be the first step in setting up a joint venture agreement. You need to take steps to be able to plan your joint venture successfully. This type is created when two parties come together with an agreement to sell their products or services. The main objective of this type of joint venture is to reduce marketing efforts and costs, while products or services gain a wider market and a wider reach. Some examples of this type of joint venture are, among others, the following: in this article, you will learn all about joint ventures, joint venture agreements and even the steps and tips for creating your own example of a joint venture contract. Read on to know all this relevant information that can be provided for the future.