What is the benefit of a joint venture in San Diego and throughout California? Joint ventures provide an opportunity to explore new vertical and/or geographic markets by combining forces with another company or group of companies to accomplish goals of mutual interest. Protecting your personal interests in a joint venture requires experienced San Diego business attorneys.
New Business Opportunities – A New Joint Venture
New business opportunities are abundant in these changing times. With the ease of personal computers and online banking, the steps needed to build a business are becoming less arduous. Sites like YouTube have helped everyday people with a video camera to become paid online celebrities. Some people even collaborate together and work as a group to create content for distribution across multiple platforms.
The same is true in a commercial setting. A successful small business has a proven idea and/or product that has been successful in existing markets but lacks the financial and business resources to expand into new markets. A joint venture provides an opportunity for business entities and even individuals to work together to accomplish mutually beneficial goals and objectives. However, it is important to make sure you are protecting yourself, your finances, and ultimately your trade secrets and intellectual property.
The Benefit of a Joint Venture
What is a joint venture and what is the benefit of a joint venture for your San Diego or Southern California company? A joint venture is a contractual business project between two or more parties. This differs from a business partnership as a joint venture maintains the unique and separate identify and protections of each separate entity while establishing the framework to work together to accomplish the goal at hand.. Your interests in a joint venture must separate your personal assets or business entity from the liabilities which might arise from the venture itself.
A joint venture allows the participants to share resources, market presence and expertise while spreading the risks associated with the venture at hand. The parties are able to access products, services, technologies, infrastructures and/or markets they would not be able to reach on their own. Joint ventures should be tailored to be flexible, facilitating the short-term and in some cases laying the groundwork for the long-term.
Your Attorneys for a Joint Venture in San Diego
The Watkins Firm are your attorneys for a joint venture in San Diego. Draw upon our 40+ years of experience and our proprietary library of proven, battle-tested business contracts and joint venture agreements. It is always in your best interests to meet with your Watkins Firm business attorney and plan out the potential details and structure of your joint venture before agreeing to anything. We will help you to understand the best strategies for structuring the transaction, the nature of the product of the joint venture and who or what entity will own this intellectual property as well as how to structure the transaction to maximize your business interests. We invite you to review our podcast Episode 34 – Business Formation as well as the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
