JV Partnership. Is It Good?

[lurzan]

Hello brilliant people. I'm planning to do some JV with a person who I never met before. I just randomly ask for some JV partner for some online project and he ask me to add him on skype. Can someone kind give some brilliant input about this matter please. What is the next step should I do?


Nazrul

 

[Chase]

You must meet them face to face (you may not be compatible)
Define each others role
And an absolute must, have a written contract written by an expert, you will need a 'get out clause' if it doesn't work out
Good luck

 

[lurzan]

You must meet them face to face (you may not be compatible)
Define each others role
And an absolute must, have a written contract written by an expert, you will need a 'get out clause' if it doesn't work out
Good luck

Ah.. That's quite a cool advice. Thanks Chase but I'm still wondering does a contract have to be written by a lawyer to be legal?

 

[Chase]

Hi,
Sorry for the late reply, I was tied up all day yesterday. It does not have to be drawn up by a solicitor to be legal, you can do one yourself, it's just more secure that way.
I asked around for prices for one and the cheapest solicitor was £700 so I decided to draw it up myself.
Go on to the business link web site, they have some good information if you do want to do it yourself.
Good luck

 

[Chris Ashdown]

You question the value of paying a solicitor when you go into a joint venture with a stranger

Are you serious

 

[lurzan]

Thanks guys. Appreciate your input.