JOINT VENTURE
-unification based on the contract of several enterprises or individuals with one or more foreign individuals or legal entities for the implementation of the joint program in the term agreed upon in the constituent documents.
SP acts in accordance with the law and its charter in the form of a partnership or a company.
SP:
1) has an independent balance;
2) is responsible for its obligations with all property belonging to it;
3) is not responsible for the obligations of the state and its participants.
The supreme body of SP is the government, which is appointed by the participants.
The statutory fund is made up of contributions from participants, both initial and additional. If foreign participants import equipment, materials and other property into the account of deposits, SP is exempted from customs duties.
The property belonging to SP can not be subjected to requisition or confiscation in the administrative order. The recovery of this property can be made only by decision of the bodies authorized by the Russian legislation.
Disputes that arose between SP, as well as internal disagreements are considered in the courts of the Russian Federation or, if there is agreement between the parties, in the arbitration court.
In the world market, SP is an inexpensive way, in comparison with mergers and acquisitions, of expanding the entrepreneurial interests of enterprises. The main problem in the creation of SP is an agreement between two separate enterprises on how the enterprise created by them will be developed and managed.
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