Most of the time, the only way to amend a joint venture agreement is for both parties to agree to new terms. Clauses that cover early termination may be included. This American Life declares a historic joint venture between General Motors and Toyota, known as New United Motor Manufacturing Inc. or abbreviated as NUMMI. Since the joint venture agreement is an essential document for entering a joint venture, it probably has many advantages, right? The answer is yes, there are many advantages in drawing up a real draft joint venture agreement which we are going to discuss now. Learning these benefits would help you make an informed decision about your desire to make one for your next joint venture. Now you have planned your joint venture and are ready to make a deal with a second party. In order for you to create a good example of a joint venture agreement, you might need a few useful steps and tips to guide you. Chinese joint ventures are a mechanism for forced technology transfer. In many cases, technology transfers are effectively required by China`s foreign direct investment (FDI) regime, which discourages important sectors of the economy for foreign firms. To access these sectors, China requires foreign companies to enter into joint ventures with chinese companies that have no connection. CONSIDERING that the parties intend to set up a joint venture between themselves in order to cooperate [DESCRIPTION OF THE JOINT VENTURE], the term `joint venture` is, in European law, an elusive legal concept, better defined according to the rules of company law. In France, the term “joint venture” is repeatedly translated as “association d`entreprises”, “joint venture”, “joint venture” or “joint venture”.
 Most joint ventures are registered, although some, such as in the oil and gas industry, are “unregistered” joint ventures that mimic a business unit. If two or more persons have come together to form a temporary partnership to carry out a particular project, such a partnership can also be described as a joint venture in which the parties are “joint ventures”. .