Heads of terms—corporate joint venture
Heads of terms—corporate joint venture

The following Corporate precedent provides comprehensive and up to date legal information covering:

  • Heads of terms—corporate joint venture
  • 1 Introduction
  • 2 The joint venture
  • 3 Structure
  • 4 Conditions
  • 5 Timing
  • 6 Documents
  • 7 Due diligence
  • 8 Costs
  • 9 Confidentiality
  • More...

Date: [insert date]

Subject to contract

    1. 1

      Introduction

      1. 1.1

        These heads of terms set out the principal terms and conditions upon, and subject to, which [insert name of first shareholder] (Party A) and [insert name of second shareholder] (Party B) are proposing to enter into a joint venture to [insert purpose of joint venture] (the Proposed Joint Venture). Each of Party A and Party B is a party and together they are the parties.

      1. 1.2

        The terms in this document are not exhaustive and[, with the exception of paragraphs 7.2, 8, 9, 10, 11 and 12,] are subject to contract and not intended to be legally binding on the parties. Neither party to this document shall be legally bound to proceed with the Proposed Joint Venture unless and until a formal written joint venture agreement is entered into.

    1. 2

      The joint venture

      Party A and Party B wish to enter into the Proposed Joint Venture to [insert purpose of joint venture and intended business and scope].

    1. 3

      Structure

      1. 3.1

        The parties intend that the Proposed Joint Venture will take the form of a private limited company incorporated in England and Wales (the Joint Venture Company), in which [each party will own 50% of the issued share capital OR Party A will own [insert percentage]% of the issued share capital and Party B will own [insert percentage]% of the issued share capital].

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