Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Joint venture definition

What does Joint venture mean? In legal practice, a joint venture is a collaborative arrangement in which two or more parties pool assets, finance, IP or know‑how to carry on a specific project or an ongoing business, sharing control, risks, profits and losses (including equity and revenue where an entity is formed). It is a descriptive term rather than one defined by statute across England & Wales, Scotland, Northern Ireland and Ireland, though used in competition, tax and accounting contexts. Structures commonly include: (i) an incorporated joint venture (usually a private company limited by shares) with rights documented in a shareholders’ agreement and...

Joint venture disputes in England and Wales: practical guide to contractual and implied duties, corporate deadlock, remedies and exits, statutory routes, jurisdiction, disclosure preservation and settlement

Published by a LexisNexis Dispute Resolution expert

Practice notes

Practice Note

This Practice Note sets out the principal practical factors to address when encountering a possible Joint venture (JV) dispute. It is applicable to every type of JV structure, with further points arising where the JV relationship is constituted through a joint venture company (JVC). From the outset, indeed, recognise that embarking on a JV in the first instance ordinarily demands substantial planning and effort on the part of the JV participants, who have decided to partner with one another for mutual advantage, typically by pooling cost, resources and experience. When a dispute threatens, your client must reflect carefully and precisely on what it is trying to achieve and whether the ultimate objective is for the JV to continue, so as to capture the benefits of all the time and money invested in establishing it, or whether there are sufficiently strong reasons to be ready to see that investment lost if the JV is dissolved or your client departs from it. You should also weigh the full ramifications of terminating or exiting the JV, particularly where the consequences extend beyond the immediate project for which the JV was created in the first place...

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John Gilbert

John Gilbert is co-chair of Bracewell’s international arbitration practice and is based in its London office. John resolves disputes across the energy sector through litigation, arbitration, expert determination and mediation. He advises on a broad range of disputes related to oil and gas exploration and production, the construction and operation of pipelines and the downstream sector. John has particular experience representing clients locked in disputes over gas sales agreements, including price reviews and on the operation of take-or-pay provisions. In addition, he advises on a broad range of disputes relating to power generation, both conventional and renewables. John has also represented clients in issues concerning ESG, including matters concerning business and human rights, anti-bribery and money laundering obligations and on conducting investigations. For six years, John previously served as in-house counsel in the dispute resolution team of an oil and gas...

Web page updated on 21/05/2026

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