Joint venture

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ANUJA

Management Trainee

24 Points Joined June 2012

Ques No. 1 - Can a partnership firm enter into a joint venture agreement with another partnership firm?

Ques No. 2 - Who all can enter into a Joint Venture Agreement?

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Guest

Partnership firms do not have a seperate legal identity of their own, hence they can not enter into a joint venture agreement. However, partners of 2 firms, in their own capacity, can enter into a joint venture agreement. Further, Limited Liability Partnership firm LLP can enter into a JV with other LLP, as it has it's own separate legal identity. Thus, only those 'persons' can enter into a JV who have a seperate legal identity.