Calgary Partnership Lawyer

To advance and develop one's business aspirations, it becomes necessary to engage other and collaborate so as to achieve those objective goals. So as to achieve such an objective it is important to structure your business relationship so as to realize optimal efficiency, while limiting your exposure to risk and untenable disputes. This can be achieved through the establishment of the appropriate legal structure to advance your business aspiration, through such legal structures as a partnership or a joint venture.

PARTNERSHIP: An unincorporated business organization wherein multiple persons or parties engage in a specific business together, in pursuit of a common goal, and where the the partners share proportionally in the profits and losses / debts and liabilities. Partnerships are created by law, though they greatly benefit from the creation of a formal written agreement that spells out the rights and obligations of the partners. [see also Continental Bank Leasing Corp. v . Canada, [1998] 2 S.C.R. 298 at para 24] MORE

JOINT VENTURE: An association of two or more persons or businesses engaged in a single business enterprise with a clearly defined profit objective, without forming a partnership or corporation. The written contract sets out the parameters of the venture, controlling how the pursuit is to be undertaken and achieved. [see also Graham v . Central Mortgage and Housing Corporation and Bras D’or Construction Ltd., [1973] 13 N.S.R. (2d) 183 (S.C.T.D.) at 208] MORE