Legal characteristics and structures of Joint Venture agreements

Global values are influencing the sociological and cultural accumulations of societies as well as bringing great innovations on their commercial capitals. Inasmusch as the technology and investment reach an inter-enterprise dimension, this causes an increase of demand on needs and services day by day. Thus, in order to gather capitals and the field force, various methods of partnerships are being adopted by investors. Within this scope, joint venture agreements are one of the most frequently used partnerships methods. Contracting parties who complete each other with practice and technical knowledge required for various topics, convene with their stocks and a common aim supposing to procure market access and increase of patronage. By this way, risk sharing and technical, financial and commercial gathering would be provided. In our country, joint ventures which the clauses for ordinary partnerships are applied, assert mostly in constructing, petroleum, mining and investing industries. In this study the legal elements of joint venture agreements and the comparison of similar contracts were examined. The formations, fields of studies, qualifications, legal characteristics, and management of joint ventures were also discussed doctrinally with court orders in details.