The Fundamentals of Joint Ventures
Richard E. Burnham, Esq.
Formerly: V.P. — Construction Group Counsel of Perini Corporation; Commercial Director for Parsons Corporation; Director at Trauner Consulting Services
If you understand the risks of Joint Venturing and are prepared to meet them, the use of Joint Ventures may be a relatively low-cost, low-risk way to expand a contractor’s experience, geographical market, and technical expertise. Owners will also benefit from learning more about Joint Ventures – what to look for and require of Joint Ventures and what having a Joint Venturer performing their work may mean to them. This presentation will help Owners understand that Joint Ventures may result in their work being performed by entities with broader experience and expertise, and greater financial capacity.
The webinar was very helpful in the understanding of Joint Ventures. There is not much information out there covering exactly how to use and impalement JV agreements and how to structure them once you are there. Very Helpful
Keith David, MBE, DBE, SBE/MC,8a
Very well organized.
I thought that the webinar was very informative.
Ham Lake, MN
Learn why, in an industry that is filled with fiercely competitive and independent-minded risk-takers, we so often see competitors come together to form Joint Ventures to pursue and perform work on construction projects in the USA and around the world. This webinar will explore this paradox, and the participants will learn not only why it is happening, but how it can work for them.
This 90-minute recorded webinar, which is presented in a simple and straightforward manner by a professional with years of hands-on experience in the negotiation, drafting and administration of Joint Venture Agreements, highlights basic differences and alert you to the unique risks of Joint Ventures.
The information-packed program will help you:
- Understand what a Joint Venture is and why are we seeing so many more
- Review how the adverse economy is driving this phenomenon
- Learn how a Joint Venture gets formed and what you need to know about Joint Venture agreements
- Compare how Owners, Contractors, and Sureties view Joint Ventures
- Determine the unique management challenges presented by Joint Ventures
- Learn how Joint Ventures can benefit your business
- Recognize the “basics” that you need to know about Joint Ventures
- Assess some common risks that are inherent in Joint Venturing and learn how they can be managed
- Be prepared for what could go wrong
The topics covered include a look at Joint Ventures from the perspectives of Owners, Contractors, and Sureties and — by doing so, describe how this form of association may, or may not, benefit each of them. Listen to this 90-minute recorded webinar to learn:
- What a Joint Venture is, and why they are becoming more common?
- How a Joint Venture gets formed, and what you need to know about Joint Venture Agreements?
- What "Joint and Several Liability” is and why you need to learn about it?
- What you should expect from Sureties, and what “Cross-Indemnity” means?
- What you should look for in a Joint Venture Partner?
- What could possibly go wrong?
- And much, much more!
Who Will Benefit?
Contractors and Owners (and attorneys for each) who are (or should be) interested in learning more about the pros and cons of Joint Ventures, and how to avoid some of the common pitfalls. This is not an abstract legal dissertation. Rather, it presents and discusses the issues surrounding Joint Ventures in a practical, common sense way.
This event features key insights from our knowledgeable construction expert:
Richard E. Burnham, construction industry executive and attorney, brings years of hands-on experience with all types of projects and a spectrum of contract delivery methods from a variety of perspectives. Mr. Burnham started his career as in-house counsel to a regional contractor in Philadelphia, then moved on to become the VP-Construction Group Counsel for a major International contractor headquartered in Massachusetts which worked in both the Building and Heavy sectors of the industry and had more than $1Billion in annual revenues. Later he served as the Commercial Director on an $8 Billion Commuter Rail Project in Dubai. During two different periods he was a Director for Trauner Consulting Services, where he specialized in giving “up-front” advice to clients, analyzed claims, and was called upon to serve as an expert witness in a variety of construction related disputes.