Film Project Joint Venture Dissolution Agreement
Dissolve and terminate a joint venture which was set up to produce a motion picture with this Film Project Joint Venture Dissolution Agreement.
- The property of the joint venture will be liquidated and the proceeds applied to payment of outstanding debts and expenses.
- Any remaining balance will be allocated among the co-venturers in proportion to their capital contributions.
- Copyright in the screenplay and the motion picture produced by the joint venture will be held and owned jointly by the co-venturers.
- All revenues received from the picture, including merchandising and spin-off rights, will be shared equally by the co-venturers.
- If a co-venturer wishes to sell its copyright interest, the other co-venturer will have a first right of refusal to acquire the interest.
- If a co-venturer wishes to use the screenplay in connection with another project, the other co-venturer will be given an opportunity to participate.
Once all the purposes of the joint venture are fulfilled, it's time to close out the JV. Have all of the parties sign this Film Project Joint Venture Dissolution Agreement to make it official.