Articles Posted in Business Ventures

To establish a joint venture in Florida, the written contract must contain the following five elements: (1) a community of interest in the performance of a common purpose, (2) joint control or right of control, (3) a joint proprietary interest in the subject matter, (4) a right to share in the profits and (5) a duty to share in any losses which may be sustained.  Absence of one element precludes the finding of a joint venture.

A party asserting that an unwritten, implied contract is the basis of a joint venture faces a heavy and difficult burden, as it must allege and prove that the implied contract contains the same five elements required of a joint venture based on a written contract.

If these five elements exist, joint venturers owe each other a duty of loyalty, breach of which gives rise to a claim for breach of fiduciary duty.

South Florida (Boca Raton, Florida) Corporate and Shareholder Business Dispute Litigation and Arbitration Attorney:

Florida Minority Shareholder Election Statute:

607.1436 Election to purchase instead of dissolution.

South Florida, including Boca Raton, Delray Beach and West Palm Beach Business and Corporate Attorney:

Risk is defined by Webster’s Dictionary as “the chance of injury, risk or loss.” In the investment arena risk can be defined in a number of ways:

  • with respect to fluctuating market values of securities and portfolios, risk means the exposure to uncertainty, which is manifest as variability (or, synonymously, volatility), and is measured by standard deviation.
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