This Weagree model contract is an extensive template addressing all aspects of an incorporated JVC. There are extensive provisions organising the operations, on the management and decision-making within the JV, and term and termination.
The model joint venture agreement consists of 31 pages, and can be used for all kinds of incorporated cooperations and consortiums. It may inspire agreements for more informal collaborations as well.
In the schedule are guidelines for scoping the field of collaboration, and the non-compete. There are several provisions regarding the JVC-financing (although financing and shareholder contributions must be addressed in a project agreement (not included).
The ‘laundry list’ of required board approvals is extensive and systematically structured. The JVC management structure presumes supervision by a non-executive board (although the related matters reserved for their approval may easily be moved to the list of actions requiring shareholder approval). There are extensive provisions regarding (contents of) the Business Plan, and (optionally) a Marketing and Sales Plan.
There is a basic deadlock-breaking mechanism (providing for escalation). Basic (optional) Tag-along and Drag-along clauses are inserted.
Definitions are addressed in a schedule. Related project agreements with the JV partners must be added.