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Simple Joint Venture Agreement

Simple Joint Venture Agreement Template for Nigeria

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Key Requirements PROMPT example:

Simple Joint Venture Agreement

"I need a Simple Joint Venture Agreement for a partnership between a Nigerian tech startup and a foreign software company, focusing on developing and marketing educational software products in West Africa, with operations starting March 2025."

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Document background
The Simple Joint Venture Agreement is a crucial legal instrument in Nigerian business practice, designed to facilitate partnerships while maintaining clarity and effectiveness. This document is particularly suitable for businesses seeking to establish straightforward collaborative ventures without the complexity of more elaborate joint venture structures. It is commonly used when parties wish to combine resources, expertise, or market access while maintaining their separate legal identities. The agreement complies with Nigerian legal requirements, including CAMA 2020 and relevant investment laws, making it suitable for both domestic and international partnerships. It provides essential provisions for governance, profit sharing, and operational management while remaining flexible enough to accommodate various business objectives and sectors. The document is particularly valuable for new market entrants, business expansions, or project-specific collaborations in Nigeria.
Suggested Sections

1. Parties: Identifies and provides full details of all parties entering into the joint venture agreement

2. Background: Sets out the context and purpose of the joint venture, including the business opportunity being pursued

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules

4. Joint Venture Scope and Objectives: Clearly defines the business scope, objectives, and territorial limits of the joint venture

5. Contributions and Ownership: Details the initial contributions (capital, assets, expertise) of each party and resulting ownership percentages

6. Management and Control: Establishes management structure, voting rights, and decision-making processes

7. Financial Matters: Covers profit sharing, losses, accounting practices, and banking arrangements

8. Operations: Sets out day-to-day operational procedures and responsibilities

9. Duration and Termination: Specifies the term of the agreement and circumstances for termination

10. Confidentiality: Protects confidential information shared between parties

11. Non-Competition: Prevents parties from competing with the joint venture within agreed parameters

12. Dispute Resolution: Establishes procedures for resolving disputes between parties

13. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and establishes jurisdiction

Optional Sections

1. Intellectual Property Rights: Required when the JV involves creation, use, or licensing of intellectual property

2. Employment Matters: Needed when the JV will directly employ staff or share employees

3. Technology Transfer: Important when one party is providing technical knowledge or technology

4. Environmental Compliance: Required for ventures involving environmental impacts or risks

5. Foreign Exchange Provisions: Necessary when the JV involves foreign partners or international transactions

6. Insurance: Important for high-risk ventures or when significant assets are involved

7. Force Majeure: Recommended for ventures vulnerable to external disruptions

8. Anti-Corruption Compliance: Important for ventures involving government contracts or high-risk sectors

Suggested Schedules

1. Business Plan: Detailed business plan including market analysis and financial projections

2. Initial Contributions: Detailed list and valuation of each party's initial contributions

3. Management Structure: Organizational chart and detailed management procedures

4. Key Performance Indicators: Metrics for measuring the joint venture's performance

5. Transfer Pricing Policy: Guidelines for pricing of goods/services between JV and partners

6. Technical Specifications: Technical details of products/services if applicable

7. Required Licenses and Permits: List of regulatory approvals needed for operation

8. Asset Register: Detailed list of JV assets and their ownership status

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































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Relevant Industries

Oil and Gas

Manufacturing

Technology

Agriculture

Real Estate

Financial Services

Telecommunications

Construction

Retail

Healthcare

Mining

Education

Renewable Energy

Transportation and Logistics

Professional Services

Relevant Teams

Legal

Corporate Development

Finance

Operations

Business Development

Risk and Compliance

Strategy

Commercial

Investment

Corporate Secretariat

Relevant Roles

Chief Executive Officer

Managing Director

Legal Counsel

Business Development Manager

Chief Financial Officer

Operations Director

Company Secretary

Investment Manager

Commercial Director

Project Manager

Risk Manager

Corporate Development Officer

Strategy Director

Joint Venture Manager

Compliance Officer

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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