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Corporations and LLP

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Could Elaine and Roy form a joint venture? When is this type of arrangement best utilized?

What are the duties of the shareholders of a corporation? What are the duties of the directors and officers?

Can you discuss how an LLP differs from a Limited Partnership (LP)?

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A joint venture would not be appropriate for Elaine and Roy. Joint ventures are commonly formed between two existing businesses.

A joint venture is a strategic alliance where two or more parties, usually businesses, form a partnership to share markets, intellectual property, assets, knowledge, and profits. A joint venture differs from a merger in the sense that there is no transfer of ownership in the deal.

If you are a business owner who wants to significantly increase market reach, break down barriers to entry in your market, or simply generate skyrocketing revenues in a shorter amount of time, forming a joint venture with another company would be ideal.

Elaine and Roy could for a business partnership together (i.e. partnership, LLP, corporation, etc.) and then, in an effort to get into the market faster, join with another company to get ...