Joint Business Venture Lawyer Tampa, FL
Though a joint venture can create more opportunities, it can also increase the risk of potential conflicts down the road. Risk is present in every decision, however, so rather than avoiding situations that may present drawbacks at some point, our Tampa, FL joint business venture lawyer encourages you to reach out to solidify your strategy from the get-go.
Joint ventures are started for different reasons and are typically temporary, though in some cases they can become more permanent. Our legal counsel at Hoyer Law Group, PLLC has years of experience collaborating with individuals who choose to start an LLC or corporation, so they are familiar with associated risks and benefits.
How Our Joint Business Venture Lawyer Can Help
Even when friends decide to embark on a business venture together, it can be useful to have a third-party who is able to remain neutral in times of disagreement or when parties can’t decide on the best route to take. Most importantly, our Tampa joint business venture lawyer can help create a concrete document that you and your partner(s) can look back on in times of uncertainty.
There are many elements to consider when compiling a joint venture agreement, some of which include the continuous contribution amounts for each party, joint venture staffing, and management of the joint venture. By allowing our team to assist you with this document, you will protect your own assets going into the agreement and have greater clarity on what’s expected of you throughout the arrangement.
Joint Venture Risks And How We Can Help Mitigate Them
Global and national markets are frequently changing and finding ways to gain competitive edges over each other, so it can feel impossible to gain leverage on your own. Some of the main advantages of joint ventures are that they allow companies to combine their resources and maximize the individual strengths of each party in the process.
That being said, there are still variabilities that can arise in joint ventures. Some of these include the following:
- Unsuccessful Conflict Resolution. When our monetary resources are on the line, it can be even more difficult to see another person’s perspective. In this world, money can lead to security, opportunity, and ease. When you choose our experienced Tampa joint business venture lawyer, you are ensuring an impartial point-of-view to help ground both parties in reality.
- Disagreements Regarding Investments. More money talk—do we see a theme here? This just goes to show how critical it is to get each party on the same page with the joint venture agreement. This document can serve as a lifeline when things are unclear. Our team would also recommend re-visiting this agreement at least annually or if you notice parties are unsatisfied in the current operation.
Growing your business is rarely easy, but it is less complicated when you have our trusted attorneys at Hoyer Law Group, PLLC on your side. Don’t hesitate to set up a consultation with us if you would like to chat more about a potential joint business venture.
