The Simple Joint Venture Agreement is a fundamental document used in Belgian business practice when two or more parties wish to collaborate on a specific business venture while maintaining their separate legal identities. This document is particularly relevant when parties need to formally structure their cooperation without creating a new legal entity. The agreement, governed by Belgian law, typically includes detailed provisions on capital contributions, profit sharing, management rights, and operational procedures. It's commonly used for project-specific collaborations, market expansion, or sharing technical expertise and resources. The document must comply with the Belgian Code of Companies and Associations and related commercial laws, while also considering EU regulations where applicable. A Simple Joint Venture Agreement is often preferred when parties seek a less complex structure than a full corporate merger or when the collaboration is intended for a specific duration or project.
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1. Parties: Identification and details of the joint venture partners
2. Background: Context of the joint venture and the parties' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Purpose and Scope: Clear statement of the joint venture's objectives and scope of activities
5. Contributions: Details of what each party will contribute (capital, assets, resources, expertise)
6. Ownership and Profit Sharing: Structure of ownership and how profits/losses will be distributed
7. Management and Control: Governance structure and decision-making processes
8. Rights and Obligations: Core responsibilities and rights of each party
9. Term and Termination: Duration of the joint venture and circumstances for termination
10. Confidentiality: Protection of confidential information shared between parties
11. Non-Competition: Restrictions on competitive activities during and after the joint venture
12. Dispute Resolution: Procedures for resolving disputes between parties
13. Governing Law: Specification of Belgian law as the governing law
14. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Intellectual Property Rights: Required when the joint venture involves creation or sharing of IP
2. Employment Matters: Needed when the joint venture will have employees or shared staff
3. Insurance: Include when specific insurance requirements need to be maintained
4. Environmental Compliance: Required for joint ventures in industries with environmental impacts
5. Export Control: Necessary for joint ventures involving international trade
6. Data Protection: Include when the joint venture involves processing personal data
7. Force Majeure: Optional clause for handling unforeseen circumstances
8. Anti-Corruption Compliance: Important for international joint ventures or public sector work
1. Business Plan: Detailed plan of the joint venture's business objectives and strategy
2. Initial Contributions Schedule: Itemized list of each party's initial contributions with valuations
3. Assets Schedule: List of assets to be transferred to or used by the joint venture
4. Intellectual Property Schedule: Details of IP rights being contributed or licensed to the joint venture
5. Management Structure: Detailed governance structure and management procedures
6. Key Personnel: List of key employees and their roles
7. Service Level Agreements: Details of any services to be provided by the parties to the joint venture
8. Form of Shareholder Resolution: Template for shareholder resolutions
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