Has anyone had experience with JV partnerships?

[Charlie Rushton]

I'm interested in better understanding the structure of JV partnerships. Can they be created with a simple JV agreement, or is entity creation required as well

[Eric M.]

A separate entity is the cleanest but they have costs and are not generally necessary especially if each person already has a limited liability entity set up. You can just JV between the entities and have the same protections. That is what I do.

More important than the entity is the agreement. Maybe I go overboard and some people get away with very simple JV agreements but those people will regret it when something goes wrong. A JV agreement is like insurance, you don't need it until you need it and when you need it, it can save or cost you everything.

Imagine all the worst scenarios that you think will never happen and address them it the JV agreement.