This should include developing legal documents protecting your own trade secrets and verifying your potential partner`s compliance with intellectual property rights. It is also worth checking whether they have other agreements, either with their staff or with consultants. The parties to a joint venture share a common expectation as to the nature and level of the financial and intangible objectives and objectives expected of the joint venture. As a rule, objectives and objectives are closely concentrated. The assets provided by each participant represent only a portion of the total resource. Each member shall have the right to control the other, unless there is a restriction expressly agreed in the joint venture contract. Under some state laws, the duration of a joint venture is subject to the same rules as a partnership. .