This question is self-evident for the JV`s partners. They can easily give the exact numbers of their bet: 50/50 or 60/40 or 40/30/30, etc. The figures are round and constant, from the signing of the joint enterprise agreement until the end of the project. The figures represent each member`s share of the joint venture, including equity (if any). The previous point should be clear: a consortium cannot charge. The underlying companies, which are unionized partners, must each take into account the progress made in their respective volumes. Typically, the parties provide a cover letter that aggregates the underlying invoices. Technically, this cover letter is not an invoice. I`ve seen that many employer representatives oppose multiple invoices, but… There is no other way. A joint venture does not have this problem. Within the consortium, each participant retains its own legal status and the consortium`s control over each participant is generally limited to activities related to the joint transaction, in particular profit sharing. A consortium is formed by contract.
Joint ventures, while a partnership in the familiar sense of the word, can adopt any legal structure. Businesses, partnerships, limited liability companies (LCs) and other entities can all be used to create a joint venture. Despite the fact that the purpose of the joint venture is typically intended for production or research, they can also be set up for continuous purposes. Joint ventures can combine large and small businesses to take over one or more projects and small projects and deals, big or small. However, in a joint venture, two or more parties generally share ownership of the business, as well as risks, profits, losses and governance. A joint venture is an association of two or more legal or legal entities that operate a joint venture. Typically, a joint venture includes a contribution of the parties` money, knowledge, effort or know-how in exchange for ownership of the new entity, management and control rights, and shareholding rights in the company`s profits.