Joint Venture Agreement


Summary

This template is a Joint Venture Agreement contemplating a joint venture between two entities who wish to establish a limited liability company as their joint venture vehicle. This template includes practical guidance. The purpose of the joint venture is to research and develop a new product for later manufacture for sale. Both parties own background IP and agree to extend any necessary licenses to the other party. The agreement incorporates the inventorship model where ownership of the developed or foreground IP is allocated to the party employing the people who developed it.