Joint venture agreements

With development in technology and distances becoming meaningless, trade volume of both domestic and international companies have risen and many new agreement types came along. Joint venture agreements, which are based on ordinary partnership, offers enough flexibility to both sides of the agreement and is a great way to put both sides' wills in a more accurate manner. There are a couple of joint venture agreement varities. First one is "contractual joint venture" and the second one is "equity joint venture". Contractual joint venture only relies on a basic agreement which includes the fundamentals of the partnership. On the other hand, equity joint venture includes the establishment of a company based on a basic agreement. This forms an entitiy of agreements and must be particularly evaluated. This paper will first give some information about the emergence of joint ventures, their legal characteristics, functions and termination. After that essential information, joint ventures in Turkish Legaslation will be analysed and suggestions will be offered in some subjects that are debated in doctrine.