THIS AGREEMENT (the “Agreement) is made as of the day of , 20 , by and between , a (entity type, if applicable, and state of incorporation/registration/formation, i.e., a Delaware corporation) (the “First Party”), and , a (entity type, if applicable, and state of incorporation/ registration/formation) (the “Second Party,” and collectively, the “Parties”).
WHEREAS the First Party is engaged in the business of (briefly describe First Party’s business) ;
WHEREAS the Second Party is engaged in the business of (briefly describe Second Party’s business) ;
WHEREAS the Parties wish to join together in a joint venture for the purpose of (briefly describe the purpose of the joint venture) ;
NOW THEREFORE BE IT RESOLVED, in consideration of the mutual covenants, promises, warranties and other good and valuable consideration set forth herein, the Parties agree as follows:
In a joint venture, two or more companies join together to collaborate on a particular project. Through their collaboration, the companies share resources, profits, losses and expenses.