Letter of Intent: Majority/Minority Joint Venture

A Letter of Intent: Majority/Minority Joint Venture under USA law is a legal template that outlines a preliminary agreement between two parties looking to establish a joint venture. This type of joint venture involves one party, referred to as the majority partner, holding a controlling interest while the other party, the minority partner, holds a smaller stake. The template serves as a starting point to formalize the intentions and basic terms of the joint venture, providing a framework for further negotiations and potential finalization of a detailed joint venture agreement. This letter typically includes key elements such as the objectives and scope of the venture, financial and operational arrangements, decision-making procedures, management structure, allocation of profits and losses, dispute resolution mechanisms, and the proposed timeline for further negotiations. It is important to note that this template is specific to joint ventures under the laws of the United States and should be customized according to the unique circumstances and needs of the parties involved.