This article is written by Aditya Shrivastava, marketing executive at iPleaders.
Do you know that your favorite Starbucks is a joint venture with Tata Global Beverages?
Did you know McDonald’s was running a joint venture between Connaught Plaza Restaurants Ltd? Have you ever wondered what went wrong between these two companies that it had to shut its shop at nearly 170 outlets? What could have been done to avoid it?
Do you know Tata Sons Ltd. and Singapore Airlines (SIA) are parents to the joint venture Vistara?
Do you know in the last decade joint ventures have grown twice the rate of M&A deals?
Do you know entering a joint venture is the most preferred way for a foreign company to enter Indian market?
If you don’t know the above facts or what a joint venture is, you need to read further.
Joint Ventures can be an interesting area for the law students, budding lawyers and in-house counsels to explore. A joint venture is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. An interesting fact about joint ventures is they are less complicated than corporate restructuring, or partnership arrangements, however, have roughly the same benefits.
Water Street Partner’s research on joint ventures has consistently shown that at least half of the Joint Ventures fail among other sobering statistics. Apart from the regular market challenges, most of the joint ventures fail because of their unique ownership structure or because of a vague or incompetent agreement. It continues to remain one lesser explored area by lawyers and thus the need for expertise in this area is at an all-time high.
Despite all the odds, a report by Forbes is indicative of the fact that since 1995-2015 the overall value of joint ventures grew 20% annually which is twice the rate of M&A deals. In a global survey of 253 companies who use joint ventures to spur growth or optimize the product mix, 80% of the participants confessed that the venture met its targets or exceeded the expectations.
So, what is it that these 80% entities are doing right?
If the experts are to be believed, there needs to be a right foundation in place even before the deal is signed. If the agreement is extensive and well drafted, more than half of the risks are mitigated. The rest depends on strategy, ways of working out a joint venture and ending deal at the right time in the right way.
Keeping in mind the commercial goals that a joint venture can accomplish and the critical role a joint venture deal plays in the process, LawSikho presents a one-day immersive “Workshop on Joint Venture Contracts” on the March 17th, 2018. This workshop is aimed at helping the law students, practicing advocates and in-house counsels alike to understand the various complexities involved in joint venture structures and contribute this knowledge to real life transactions.
About The Workshop
This workshop is aimed at enabling the participants with a vision to effectuate any joint venture deals and provide a detailed overview of the joint venture contracts. The workshop is designed to take you through the deal structures, documentation, decision-making and dispute resolution phases in a joint venture deal. After participation, you will be comfortably able to understand the different joint venture structures and use it effectively in a real-life opportunity.
Workshop Overview
The workshop is designed in a way to cover every crucial aspect related to any joint venture contract. The course of this workshop is largely spread over the following topics :
- Types of joint venture structures
- How to express obligations and benefits for parties
- Clause by clause analysis of a joint venture agreement
- Legal framework to consider when you conceptualize a joint venture (e.g. FDI, competition law, etc.)
- Most heavily negotiated clauses
- Where do disputes most commonly arise?
Practical Exercises
Apart from these, we at LawSikho believe that no knowledge is complete unless it can be used in the practical situations. Keeping this fundamental mission in mind, following exercises are designed :
- Review and mark-up a joint venture agreement/ identify missing clauses, with live coaching
- Prepare a requisition list for capturing commercials for a joint venture agreement from your client
Workshop Mentor
We are committed to providing you with the best in the industry and this workshop is no exception. The sessions will be led by Mr. Bhumesh Verma, Founder & Managing Partner at Corp. Comm Legal. Earlier, he was a partner at corporate and regulatory practice team of Link Legal India Law Services, New Delhi. He began his career at Ajay Bahl & Co. (now part of AZB & Partners) and went on to become a partner at Khaitan & Co and PKA Advocates before joining Link Legal. Mr. Verma has 22 years of experience in domestic as well as international corporate and commercial matters. Apart from all his medals and accolades, he is also the author of the renowned book – Drafting of Commercial Agreements.
Important Details (FAQs)
When is it happening?
17th March 2018 (Saturday)
What are the timings?
11 : 00 am – 06 : 00 pm
Where can I come to be a part of this opportunity?
iPleaders Delhi Office
33A, Mehrauli Badarpur Road,
Saidulajab, (Around 100m walk from Saket Metro Station (Saidulajab Exit) on the main road)
New Delhi – 110030.
Landmarks: Next to Lingaya’s Building / Red Onion Restaurant Near Saket
Is there any cap on the number of participants?
Yes, we just have 30 seats available. The sooner you register, the better.
What is the last date for registration?
The last day for registration is 15th March 2018.
Is there any fee for the workshop?
We are charging you a nominal fee of INR 1800 for this intense experience.
Where can I register?
To register click here.
In case you have any questions, feel free to call us at 011-33138901 or write to [email protected].
