Joint Venture and Partnership of Company Registration
The Joint Venture and Partnership:
The Joint venture will be allowed to apply for qualification and a qualified firm or joint venture company registration may during the tender period strengthen its capacity by the subsequent incorporation of the firm is approved by the government. The registration does not treat a joint venture as identical with a company registration kochi and partnership and it is similar in nature and the proper relationship created by such experience that the rights as between them are directed practically by the same rules that govern their partnership.This relationship has been defined to be a special combination of persons undertaking jointly some specific scene for profit without any actual partnership.
The Partnership of Company Registration:
It is recognized on authority that each of the parties must have an equal voice in the matter of its performance and control over the agencies used there in though one authority may allocate the performance to another.The joint venture groups are internationally recognized forms of cooperation in the joint perfection of the obstruction and contract obligations.The joint venture groups in construction industry come about company registration through agreements for the combination of legally independent contractors for the joint rendering of construction services limited in both time and content. It takes sometimes they are restricted to a single project in which case the members of the groups are generally unincorporated association.
The legal systems in general have not kept pace with the growing economic means of joint venture groups and there is no special legal form for this type of assistance which has come to stay in the company registration chennai and construction industry. The joint venture groups as also unincorporated civil law partnership subject to law partnership. The economic importance of joint ventures is syndicated on the one hand and the absence of specific legal provisions on the other has raised a problem of clarifying in accidental case since a wide variety of model contracts are printed contract forms are maintained and suit the needs and advantage of a particular construction project.