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Why Have A Joint Venture Article
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3 Joint Venture Pitfalls to Avoid
from:While there are many benefits to joint ventures there are a few occasions when these ventures might not be the best of circumstances for you. In order to to make your joint venture run as smoothly as possible and avoid some of the more serious consequences of bad joint ventures keep the advice below in mind when considering becoming a partner in any joint venture. If you do this, your odds of success will improve greatly.
1)Avoid joint ventures that lack clearly stated and well defined goals and objectives. If you can't quickly gauge by reading through a contract or proposal exactly what the project is about it's probably a good idea to pass. Not all opportunities are created equally and if the person approaching you to join in his or her joint venture isn't able to communicate the plan and/or purpose clearly to you in the proposal, chances are that he or she will not be able to effectively communicate other important information with you for the duration of the joint venture.
2)Don't jump in if the lack of planning is obvious. One thing that is difficult to make up for once you're midway into a joint venture is a distinct lack of planning that dates back to before the project began. Pay attention to the details and if they don't add up or something seems to be missing or incomplete, explore it and investigate. If the person approaching you to join in the joint venture hasn't done his or her homework well enough to explain it to you, how much other important information is missing in the creation of the product or the business plan? You do not want to associate your good name or the good name you are trying to create with a questionable product, deal, or relationship. Bow out gracefully before you find yourself in too deep.
3)Ineffective communication. This is a big deal that is nearly impossible to overcome. Whether the communication is too sporadic or unreliable to be effective or the person on the other side of this joint venture simply isn't making the point he or she is trying to make, communication is the key to the success and/or failure of a joint venture. It doesn't matter how great the product is or how wonderful the people involved in the partnership are. If you can't effectively communicate with one another there is no point in becoming involved in a joint business venture. It will only become a lesson in frustration that isn't good for either party or the businesses you are working to build.
When all is said and done, the benefits offered by joint ventures far outweigh the potential pitfalls on most days. As long as you trust your partners, have a well thought out and executed plan, and create a product that people need, want, and can afford to buy you should be sitting pretty once your joint venture is over with.
Why Have A Joint Venture Specific links
Why Have A Joint Venture News
Dow says it has been awarded $2.16B in dispute with Kuwaiti company over joint ... - Washington Post
 RTT News | Dow says it has been awarded $2.16B in dispute with Kuwaiti company over joint ... Washington Post based Dow, one of the world's largest chemical companies, formed a $17.4 billion joint venture with the Kuwaiti company in 2008 to produce plastics for consumer products, automotive parts and drug processing. But the deal was scrapped later that year ... Dow wins $2.16B in Kuwaiti dispute Dow Chemical Awarded Damages Of $2.16 Bln In K-Dow Arbitration Dow Chemical wins $2.2bn in Kuwait damages |
Trafigura, Ormet in JV to buy aluminum assets - Reuters
Trafigura, Ormet in JV to buy aluminum assets Reuters PK) have formed a joint venture to buy bauxite, alumina and aluminum projects, they said on Thursday, as the Swiss trading house builds a physical presence in the aluminum market. Trading houses like Trafigura and rival Vitol, traditionally the middle ... Trafigura Ormet form commodities joint venture Trafigura, Ormet form commodities joint venture |
Petrolympic Announces A Joint Venture on Michigan Pinnacle Reef Properties ... - MarketWatch (press release)
Petrolympic Announces A Joint Venture on Michigan Pinnacle Reef Properties ... MarketWatch (press release) TORONTO, ONTARIO AND WINDSOR, ONTARIO, May 24, 2012 (MARKETWIRE via COMTEX) -- Petrolympic Ltd. (CVE:CA:PCQ) ("Petrolympic") is pleased to announce that it has entered into a letter of intent ("LOI") to form a joint venture with Energex Petroleum Inc. Michigan pinnacle reef joint venture planned |
Sony ends panel joint venture with rival Sharp - Boston.com
 TechRadar UK | Sony ends panel joint venture with rival Sharp Boston.com Sony said Thursday it will sell back to the joint venture Sharp Display Products Corp. all 7 percent of the stake it has held since 2009. Sony won't lose any money as it will receive 10 billion yen ($126 million), the same as what it paid for shares in ... Sony ends joint venture with Sharp for LCDs Sony, Sharp end LCD joint venture Sony Ends Sharp LCD Panel Joint Venture |
Sony ends TV panel joint venture with rival Sharp under new strategy - Washington Post
 Contactmusic.com | Sony ends TV panel joint venture with rival Sharp under new strategy Washington Post Sony said Thursday it will sell back to the joint venture Sharp Display Products Corp. all 7 percent of the stake it has held since 2009. Sony won't lose any money as it will receive 10 billion yen ($126 million), the same as what it paid for shares in ... Sharp and Sony to Terminate Joint Venture to Produce and Sell Large-sized LCD ... Sony to Sell Stake in Sharp Venture Sony, Sharp end LCD panel joint venture |