At some point, most entrepreneurial businesses will look to benefit from a cooperation and partnership with other companies by way of a common project that aims to benefit both businesses.
There are many forms of joint venture, and the issues that are of most importance will vary depending on the purpose of the cooperation. Is the proposed joint venture focused on Research & Development capacity, or access to technical skills, i.e. pooling research capabilities to make a technical breakthrough, sharing intellectual property, accessing engineering expertise from another country or industry? Is it focused on access to a new, international market i.e. partnering with an established market participant in Asia, or Western Europe who can distribute and sell your products, or bundle or integrate them with their own product to enter a new market segment? Or is it about access to financing and working capital for investment? i.e. accessing equity capital that may only be available in the USA or Western Europe, bringing expert financial and management venture capital expertise on board to help the founders deliver and grow?
This slide pack (downloadable PDF) prepared for GEM by Wolf Theiss, one of the leading European law firms, highlights the roles of the parties and their issues of concern and importance in the various types of joint venture. It also considers the alternative legal structures for the cooperation, and the structure and balance of decision making within a joint venture.
Established in 1957, the Platinum Sponsor of the first Annual GEM Bulgaria Conference Wolf Theiss focuses on international business law. With 340 lawyers in 14 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, the law firm represents entrepreneurs, local and international industrial, trade and service companies, as well as funds, banks and insurance companies. Their focus always lies on offering practical, hands-on advice that is firmly grounded in commercial reality. Bulgaria is an exciting and unique country with many opportunities. Wolf Theiss has a team of 35 professionals in Sofia who lead some of the most complex transactions and projects in Bulgaria and Macedonia as well as managing cross border, multi-country, acquisitions and transactions across CEE.