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.