Understand the advantages, disadvantages and risks associated with joint venture agreements.
From power plants, to federal and state roadways, to multi-billion-dollar sports arenas, to residential subdivisions, joint venture agreements are a notable trend in the construction industry. Many contractors building large and small projects have identified more advantages than risks in partnering with their competitors in joint ventures. Learn about the advantages, disadvantages and risks associated with joint venture agreements in today's hyper-technical and fast-paced construction industry. This information will focus on how public and private owners increasingly see a better project delivery model in contractors pursuing collaborative rather than competitive objectives. The common sense behind joint venture agreements also leads contractors to access new opportunities, qualifications, expertise and resources, most of which they would not have access to without a joint venture agreement. This material discusses how joint venture agreements correspondingly offer more creative ways of sharing risk and profit on construction projects. In addition, this material will provide examples of some essential terms used in joint venture agreements and litigation that may inevitably arise from any uncertainties in the governing contracts or general conditions. Review recent success stories from joint venture construction projects throughout the United States and how contractors have shaped their joint venture agreements to succeed.
Agenda
Faculty
Richard G. (Rick) Erickson
Snell & Wilmer L.L.P.
- Partner in the office of Snell & Wilmer, L.L.P. (https://www.swlaw.com/people/rick_erickson)
- Practice emphasizes all aspects of construction law
- Conducts regular seminars and workshops on numerous topics relating to construction litigation and transactions
- Author of many publications related to construction law and commercial litigation
- Past chair, State Bar Executive Council for Construction Law; Affiliate Affairs Committee, Associated General Contractors; fellow, American Bar Foundation; Arizona Builders Alliance; Maricopa County Bar Association, Construction Law Section
- J.D. degree, University of The Pacific; B.S. degree, University of Arizona
- Can be contacted at [email protected], 602-382-6540, or https://www.linkedin.com/in/rick-erickson-9510794
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