UNIT 3.5 Strategies For Successful Joint Venture

Question 1

3 things the written agreement should cover.

Answer 1

1. An exit strategy
2. How liabilities, profits and losses are shared.
3. The objectives of the joint venture

Question 2

3 Strategies when selecting a joint venture partner

Answer 2

1. Avoid partners you do not trust
2. Make agreements simple, put them in writing
3. Look for strong partners, business that has significant skills or resources that you lack.