Software Development Joint Venture Agreement | Canada
Set up a joint venture to develop new software applications with this Canada Software Development Joint Venture Agreement.
- The Agreement is between a software developer and a client who will invest in the project.
- The parties agree to form a corporation which will issue shares to the joint venturers proportionate to their investment.
- For tax purposes, the relationship is deemed to be a joint venture, not a partnership.
- The agreement contains:
- provisions setting out how the business and affairs of the joint venture will be managed;
- provisions for one joint venturer to buy out the interest of another if an event of default occurs.
- Each co-venturer will be free to continue their own business activities separately and apart from the joint venture, unless the activities directly compete with the business of the joint venture.
- This Software Development Joint Venture Agreement is governed by the laws of Canada and can be used in any province or territory except Quebec.