Benefits of joint-venture partnership agreements

August 25, 2016 Elizabeth Katzki

Joint venture partnerships

There’s a lot of talk about joint-venture projects as more firms are teaming up to work on larger and more complex projects.

For those of you who haven’t worked on a joint-venture project, a joint-venture partnership is project partnership that creates a new legal entity made up of two or more separate firms. These agreements enable smaller firms to combine their efforts to bid on a project as a more complete entity. This style of project delivery requires collaboration across multiple disciplines, and sometimes, multiple locations.

When should you use a joint-venture agreement?

A joint-venture agreement should be used when your firm wants to bid on a project, but does not have the bandwidth or expertise to execute it well. Joint-venture partnerships place the responsibility equally on both parties involved—shared responsibility means shared accountability, so both teams have an equal investment in the project.

What does a successful joint-venture project look like?

An example of this kind of arrangement is having a remote firm with broad experience and a local firm with location specific subject matter expertise. You can learn more about how Moriyama and Teshima Architects designed and built Windsor City Hall in joint-venture with Architecttura.

Below are a few example of successful joint-venture projects; learn what it takes to bring two teams together to complete a large, complex project successfully:

Drop us a note in the comments —we’re interested in learning more about how you use collaborative project delivery methods.

For more information on technology to enable seamless joint-venture collaboration, shoot us an email or join us in the forums.

 

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