- Joined
- Aug 22, 2007
- Messages
- 304
Hi folks, from my point of view the threads here on myreinspace.com discussing joint ventures (JVs) are not only very interesting but extremely topical. One particular thread started out with the question, `Has anyone had any challenges justifying the additional $1,500-2,500 expense of creating the joint venture document to your partners?`
New Blog Post - A New Approach To Joint Ventures
Here's a sneak peek to give you all an idea of where we are coming from:
Some people are comfortable drafting their own JVAs. Some folks are more comfortable after taking my D-RD course. However, for most folks, they want to get our help in finalising that JVA.
Our conclusion was that we couldn`t review just a couple of individual clauses because of how those clauses might affect the whole agreement. Essentially we have to review the whole agreement. And, when we are asked to review or to sometimes create a custom JVA, it`s a brand-new job every time; we start from scratch; it takes a lot of hours. No matter which way you cut it, in order to give proper legal advice we end up having to do a complete review/creation of a JVA.
Richard and I brainstormed the situation and decided the answer was for us to revisit the whole notion of JVAs. To overcome the difficulties described above and to update JVAs that hadn`t changed for a few years, we needed a brand-new JVA. A JVA that would take the best parts of existing JVAs, simplify some of that dense legalese and just generally create a better, more readable document... This would be our `in-house` JVA, not one that has been circulated round the world and subject to the editing of the Internet at large (sorry, we won`t be giving this one out, folks!! As I mentioned earlier, then we`d have no way of knowing if what comes back is the original without doing a thorough review).
In the end we created a brand new JVA that is extremely detailed, with language focused on clarity and ease of understanding. When we finally finished six months later, we were pretty proud of ourselves, big pats on the back, mutual admiration society! Now to see if anybody liked our brand-new baby. Click here to read more.
New Blog Post - A New Approach To Joint Ventures
Here's a sneak peek to give you all an idea of where we are coming from:
Some people are comfortable drafting their own JVAs. Some folks are more comfortable after taking my D-RD course. However, for most folks, they want to get our help in finalising that JVA.
Our conclusion was that we couldn`t review just a couple of individual clauses because of how those clauses might affect the whole agreement. Essentially we have to review the whole agreement. And, when we are asked to review or to sometimes create a custom JVA, it`s a brand-new job every time; we start from scratch; it takes a lot of hours. No matter which way you cut it, in order to give proper legal advice we end up having to do a complete review/creation of a JVA.
Richard and I brainstormed the situation and decided the answer was for us to revisit the whole notion of JVAs. To overcome the difficulties described above and to update JVAs that hadn`t changed for a few years, we needed a brand-new JVA. A JVA that would take the best parts of existing JVAs, simplify some of that dense legalese and just generally create a better, more readable document... This would be our `in-house` JVA, not one that has been circulated round the world and subject to the editing of the Internet at large (sorry, we won`t be giving this one out, folks!! As I mentioned earlier, then we`d have no way of knowing if what comes back is the original without doing a thorough review).
In the end we created a brand new JVA that is extremely detailed, with language focused on clarity and ease of understanding. When we finally finished six months later, we were pretty proud of ourselves, big pats on the back, mutual admiration society! Now to see if anybody liked our brand-new baby. Click here to read more.