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hey everyone this is the second video on joint ventures if you have watched my earlier video i mentioned that a joint venture a traditional joint venture is where two companies two or more companies come together to incorporate to set up a joint venture company a special purpose vehicle to undertake some kind of big project so each of this two or more companies will be shareholders in the joint venture company so it is important to have a joint venture agreement setting up the rights and obligations between the two or more joint venture partners now so today im going to discuss the very important clauses that should be contained in the joint venture agreement firstly there should be a clause on the board of directors the clause should specify how many directors each joint venture partner can appoint to the board of the joint venture company called jvco i will call it jb cornell so the quorum curve means the minimum number of uh people that have to be present before a meeting can take
