Patience and preparation - Joint ventures work when companies take time to evaluate a path to success

May 04, 2015
As written in the May 2015 Smart Business News Magazine
By, Mark E. Krohn, Attorney, Corporate & Securities Practice Group, Brouse McDowell LPA

One of the biggest impediments to the proper structuring of a joint venture is impatience, says Mark E. Krohn, a Partner at Brouse McDowell.

"So many companies become enamored with the perceived benefits that they rush to a contract or mobilizing instead of fully evaluating the opportunity from each organization's perspective," Krohn says.

It's really the early-stage conversations about the mechanics of how the partnership works, what each team will do, how each party benefits, and how the partners will monitor success and react to adversity that often make or break a joint venture.

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