What is a joint venture agreement?

A joint venture agreement is a type of contract used in Washington when two or more parties (individuals, businesses, or organizations) decide to collaborate on a project or business venture. The agreement outlines the rights and obligations of each party, and details the exact terms of the venture. It includes considerations like who is liable for any losses, who will receive profits, how they will be divided, how the venture will be managed, and how it will end. The purpose of the joint venture agreement is to ensure that each party is aware of their rights and responsibilities, and to provide a basis of protection should any issues arise. The agreement is legally binding and enforceable in a court of law.

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What is a joint venture agreement?

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