Joint Venture Disputes
The most effective way to ensure that disagreements do not cause your joint venture to deteriorate is to have well drafted joint venture agreements in place at the commencement of your joint venture. If your joint venture agreement lacks clear direction on dispute resolution, Australian legislation such as the Competition and Consumer Act 2010 (Cth) and common law can aid in resolving your dispute. The Gold Coast litigation and dispute resolution team at Ramsden Lawyers can guide you in your joint venture dispute.
What is a 'joint venture'?
A ‘Joint Venture’ is a business structure in which two or more businesses combine resources, knowledge and skills for a finite time, generally for a specified project. Joint venture agreements are commonly used in property development, mining, and other large scale projects.
Joint ventures are generally regulated by the establishing document which is usually a joint venture agreement. Additionally, joint ventures are regulated by common law and also legislation such as the Competition and Consumer Act 2010 (Cth).
How can joint venture disputes arise?
Although there are many advantages in using a joint venture business structure there are also disadvantages. Due to the nature of joint ventures, common issues which arise include:
- Trust issues;
- Business culture issues;
- Management issues;
- Conflicting objectives;
- Cooperation or communication issues;
- Unequal contributions of investment, assets or expertise; and
- Unequal leadership or direction and support.
How we can help
The litigation and dispute resolution team at Ramsden Lawyers have extensive experience in joint venture disputes. The Gold Coast team understands the risks and challenges of modern business transactions and we know that embarking on a new venture, or expanding a going concern, takes courage and innovation.
Lead by Specialist Accredited Litigator and Partner, Benjamin Twomey, the team has extensive experience in mending and severing joint ventures, depending on the circumstances and desired goals of the client. The Gold Coast team is able to assist you in delivering ethical and responsive solutions including:
Consideration of your rights and obligations under any joint venture agreements;
Negotiating an exit from the joint venture;
Representing you in the negotiation or drafting documentation to effect the desired outcome;
Mediating between the parties;
Alternative dispute resolution; and
Appearing for you in any court proceedings as a result of the joint venture dispute.
How we can help
Contact us today on (07) 55 921 921 to schedule a consultation on the Gold Coast. The litigation and dispute resolution team will use their experience in partnership disputes to find the best solution tailored to your desired outcome.
For further information on Joint Ventures click on the link below: