Reserved Seating – Shareholder Rights to Appoint JV Management
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When drafting joint venture legal agreements, the parties must decide whether any co-venturer will have the direct or indirect right to fill key Management Team positions – and if so, for how long. Such decisions carry profound implications on the success of the venture, as well as a partner’s visibility into and control over the business. To understand more about how management team appointments work in JVs, Water Street recently analyzed the terms in 120 JV legal agreements and other documents to see what they had to say.
