Ian Muirhead: How to structure a joint venture

The joint venture (JV) approach provides a vehicle from which both can benefit but which stops short of a merger of the firms in question, with all the attendant complications - both regulatory and human. A JV can take any one of a number of alternative structures. It can be a limited company or a limited liability partnership (LLP). It can be directly authorised or an appointed representative of the adviser firm. The equity can be held by or on behalf of individuals or firms. Furthermore, the capital can consist solely of equity shares or can include ‘B' shares, entitling the holder ...