In many industries there are opportunities for individuals or companies to team up with one another to accomplish a mutually beneficial goal.  This is most commonly accomplished by way of a joint venture.

A joint venture is somewhat amorphous as a concept as there are no bright line legal rules.  It is a contractual arrangement, either through an outright joint venture agreement, an oral agreement, an LLC through its operating agreement or something similar.  This post gives a broad overview of what it is and why it may be something that would work in your situation.  We’ll look at it in more depth in future posts.

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