Joint Venture Agreements are contracts that are entered into by individuals who desire to pursue a common venture or business. Joint Venture Agreements usually set forth the obligations of the parties with respect to the business, as well as the rights and duties of the parties as between them. Joint Venture Agreements are a must when two or more persons or entities will be pursuing a business together because the contract establishes the understanding of the parties with respect to the business.

In addition, Joint Venture Agreements also usually provide for confidentiality provisions regarding protection of the information of the other partner, and non-compete provisions prohibiting any party from competing against the business being organized. In many cases, the Joint Venture Agreement will provide for the formation of a corporation or other type of business entity through which the partners will operate their business. In that case, the agreement should also provide for provisions regarding the transfer of the shares of the company and rights of the minority shareholders in the event that the shareholders do not own the company equally. It should be remembered that a minority shareholder (less than 50% ownership of the shares) has very limited rights under Florida law. Therefore, the Joint Venture Agreement should specifically identify the rights and obligations of the shareholders.