Joint Venture Agreement Description & Requirements :-

~A joint venture agreement provides a company with expertise it may not have or may not be willing to invest in acquiring itself.
~For example, if one company has a combustible material research lab that the venture requires, the company without the lab gains the benefit of an already established lag.
~There is an element of risk in most joint ventures. Both joint-venture parties share in the risk, such as a financial investment.
~Should the venture not become profitable, both parties can walk away from the deal losing less than if one company independently invests in the venture.