| A joint venture is not to be taken lightly. For a | | | | communication can destroy a joint venture. |
| businessperson to embark on a joint venture, he | | | | Therefore, it is necessary for both parties to be |
| or she needs to be committed and willing to work | | | | capable of communicating what they are able to |
| cooperatively with the other party involved. For | | | | offer to the project and what their expectations |
| more detail visit a person involved in a joint | | | | are. Prepare the Memorandum and Articles of |
| venture can no longer make all of the decisions | | | | Association in consultation with the joint venture |
| for the business alone. For it to be truly a | | | | partners, get them printed and suitably stamped, |
| “joint venture,” there has to be 100% | | | | and submitting the same with required documents |
| commitment from both sides. India is witnessing a | | | | like statutory declaration u/s 33 of the Companies |
| revolution both in the context of liberalization and | | | | Act 1956 {Act} and Form no.18 u/s 146 of the |
| globalization of the Indian economy and | | | | Act regarding address of the registered office, to |
| transacting business through Joint ventures set up | | | | ROC along with fees payable. |
| with foreign partners across various industry | | | | Since money is involved in a joint venture, it is |
| sectors. This article sets forth some important | | | | necessary to have a strategic plan in place. In |
| steps for forming a Joint Venture Company in | | | | short, both parties must be committed to |
| India. | | | | focusing on the future of the partnership, rather |
| When determining whether or not to embark on | | | | than just the immediate returns. Ultimately, short |
| a joint venture, it is important to ensure both | | | | term and long term successes are both |
| parties are a match with the projected client | | | | important. In order to achieve this success, |
| base. In a joint venture, each party must | | | | honesty, integrity, and communication within the |
| compliment the other in business. Sometimes, for | | | | joint venture are necessary. |
| more detail visit a misunderstanding or a lack of | | | | |