CHOOSING A RIGHT JOINT VENTURE PARTNER

The ideal partner in a joint venture is one that has resources, skills and assets that complement your own. The joint venture has to work contractually, but there should also be a good fit between the cultures of the two organizations.

A good starting place is to assess the suitability of existing customers and suppliers with whom you already have a long-term relationship. You could also think about your competitors or other professional associates. Broadly, you need to consider the following:

  • How well do they perform?

  • What is their attitude to collaboration and do they share your level of commitment?

  • Do you share the same business objectives?

  • Can you trust them?

  • Do their brand values complement yours?

  • What kind of reputation do they have?

If you opt to assess a new potential partner, you need to carry out some basic checks

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