Ask The Business Lawyer

Way before we get to the legalities of a joint venture, it's important to start with a mindset of knowing why we want to get into one in the first place.  As with romantic relationships, to get into one "because everyone else is," tends to be a lousy justification which produces lousier results.  In his post called, "Prepare Your Mindset for Joint Venture Partnerships," Joel Ellams rightly points out that:

If you’re saying “What’s in it for me?” and that’s all you’re really concerned about, you’re never going to be able to get past that. The most important thing to say to your prospective joint venture partner is, “How can we create a benefit for everybody?”