Protections
Should there be non-competes and non-disclosure agreements? Probably. Joint ventures typically involve sharing the use of intellectual property. Is the IP being transferred into the joint venture or is it being licensed? What are your thoughts on why this matters and who would prefer it which way?
If you choose a licensing arrangement, you’ll need to consider whether it is exclusive or non-exclusive. Licensing will keep ownership with the original owner, whereas if you transfer the IP to the Joint Venture entity, then the new entity will own it. The question then becomes who gets the IP after the JV terminates?
There are a lot of considerations when companies or people come together to collaborate. Your main job is to ensure your client’s interests and property are protected.