This is a basic joint venture agreement for parties who wish to pursue a joint business venture. You can download this for free, but you should consult with a business attorney to customize this basic joint venture agreement more to your unique situation. If you are considering a joint venture with another company, it is always a good idea to talk to a lawyer as part of your process. Sale option to satisfy deadlockIf a member cannot come to an agreement during the term of the contract and reach deadlock, a sales option is included in the contract. This agreement basically states that the other member can choose to buy the other's portion of the venture. PandaTip: While you have your contributions during formation, you also need to execute the Joint Venture business. That said, what do you see as the responsibilities of the parties? ----Brought to you by - The 'Lectric Law Library The Net's Finest Legal Resource For Legal Pros & Laypeople Alike. The Articles of Association regulate the interaction between shareholders and the directors of a company and can be a lengthy document of up to 700,000+ pages. It deals with the powers relegated by the stockholders to the directors and those withheld by them, requiring the passing of ordinary resolutions, special resolutions and the holding of Extraordinary General Meetings to bring the directors' decision to bear.