Joint Ventures

A joint venture is a partnership in which public and private sector partners pool their assets, finance and expertise under joint management to deliver long-term growth in value for both partners. Such an agreement applies to a specific project for a specific length of time.

Purpose

Joint ventures can realise the potential of government assets, and spread the risk of delivering policy and commercial objectives. The public sector can be involved on an on-going basis as well as share in the financial benefits of the project.

Joint ventures can include contractual agreements, for example licences, profit and revenue sharing agreements, or formal corporate joint ventures with one or more public or private sector partners.

Success in a joint venture depends on thorough research as well as analysis of aims and objectives. These should then be incorporated into a written joint venture agreement. Trust is vital to successful joint ventures. Agreeing exact terms when you set up your joint venture will help to reduce risks and allow you to enter fully and confidently into the relationship.

Applications

Background research and further advice

Links to Case Studies

You can find the following relevant case studies within the toolkit:

• Swiss Cottage, Camden