What to Consider Before Entering a Joint Venture
By Kim Slowey, Construction Dive
Contractors team up with other contractors for a variety of reasons. One might be able to fill in any cash or bonding capacity gaps. Another contractor might bring special expertise, wield local influence that will make finding enough labor or negotiating government approvals easier or help the project meet minority or disadvantaged business participation goals.
Regardless, contractors should do their homework on potential partners and take the time to make sure their legal agreements are fair and protect all parties.