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A Joint Venture Agreement is used by two parties who wish to develop a new entity together. This could include a new business. Both parties will be contributing to the development of the new entity and its assets. The agreement is used to ensure that both parties understand their responsibilities to this new entity.
The agreement will list the names of each party as well as their contact information. Both parties will need to sign this document. In addition to information about the parties, a strategic plan for the creation should be included. This will serve as a record of the party's assets being given to the project as well as the expected outcome. This will help to solve any future disputes relating to the project.
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