Creating a Texas Joint Venture

A joint venture is similar to a partnership, but it is usually limited to a single transaction. Companies can create two main types of joint ventures: (1) contractual; and (2) a separate legal entity. Creating a contractual joint venture is made by a contract between the joint venture partners. It should be in writing, but it could also be verbal. Creating a separate legal entity joint venture requires the creation of a corporation or limited liability company.

Typically, a contractual joint venture is chosen when the monetary amount is small, or the joint venture will be short. When there is more money at stake for a more extended period, the creation of a new joint venture entity is usually chosen. A joint venture agreement is often what the contract is called that assigns the partners’ obligations in the joint venture.


What is the difference between a partnership and a joint venture?

Joint venture members are together for a project instead of everyday business between partners. The joint venture members also retain the ownership of their property.


What is the difference between a strategic alliance and a joint venture?

In a strategic alliance, the entities operate separately instead of together. A strategic alliance is an agreement between two or more entities to work together to increase both parties’ individual performance.


What is the difference between a joint venture and a cooperative?

Cooperatives share a common social, cultural, or economic objective that is a long term arrangement. Joint ventures are intended for a project.


How to create a joint venture?

If you are thinking about forming a joint venture, you must get an experienced business law attorney on your side quickly. Contact the Waco business law attorneys at Dunnam & Dunnam for a free consultation about your joint venture.


Hire an experienced Waco business attorney

Dunnam & Dunnam’s business lawyers are known throughout Waco for their tailored legal advice for some of Central Texas’ most influential companies. Call us at 254-753-6437 to discuss your business law situation in Waco.

Andrea Mehta Waco Lawyer at Dunnam & Dunnam

Andrea Michelle Mehta

Andrea's practice focuses primarily in Appellate Law, Civil Trial Law, Family Law, and General Law.

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Carolina Truesdale

Carolina G. Truesdale graduated from Texas Tech University School of Law, Cum Laude.

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Eleeza Johnson Attorney at Law Dunnam & Dunam

Eleeza Johnson

Eleeza's practice areas include: Personal Injury Law, Civil Trial Law, Commercial Law, Family Law and Pharmaceutical Law.

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Gerald R. Villarrial

Gerald R. Villarrial has practiced family law, criminal law and civil litigation for over 20 years.

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Hunter Slocum

Hunter Slocum is an associate attorney at Dunnam & Dunnam, L.L.P working with civil trial law.

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Jim Dunnam Waco Attorney at Dunnam & Dunnam

Jim Dunnam

Jim Dunnam is a Board Certified Specialist in both Civil Trial Law and Family Law.

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Mason Dunnam

Mason Dunnam is the fourth generation of Dunnam attorneys at the firm since 1925

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Merrilee Harmon Waco Lawyer at Dunnam & Dunnam

Merrilee L. Harmon

Merrilee L. Harmon is a Family Law specialist, Board Certified by the Texas Board of Legal Specialization since 1985.

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Vance Dunnam Waco Attorney at Dunnam & Dunnam

Vance Dunnam

Vance has 60 years of experience as a lawyer in Waco, Texas handling all types of cases in both the office and the courtroom.

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