[Legal Review] Joint Venture Establishment Agreement - Deed of Partnership

Law firm Veat undertook legal review of the joint venture establishment related joint venture agreement regarding the joint venture agreement for A Game Development Co., Ltd.’s request.

A Game Development Co., Ltd. aimed to establish a metaverse specialist development and operation company through a joint venture (JV) with B Company. Accordingly, A and B Company’s term sheet (Termsheet) requested a legal review of the joint venture agreement to ensure it was properly defined.

Law firm Veat conducted a review focusing on 1) parts where the term sheet content agreed upon by A and B Company were not properly reflected, 2) whether the roles and responsibilities between the contributing companies were properly defined, and 3) how major decision-making methods were established.

As a result, we revised parts where the term sheet content was not properly reflected, where the roles and responsibilities between the contributing companies were not defined according to the agreed-upon terms, and the provision of pre-existing technology that was disadvantageous to A.

The term sheet is a key trade condition (termsheet) used to determine important terms that could become contentious before drafting the contract. The term sheet has no legal binding force but is important as it serves as the foundation for drafting related contracts. Therefore, we recommend discussing the term sheet with experienced legal professionals from the beginning.

Law firm Veat provides comprehensive legal advice on joint venture establishment, investment agreement review, and drafting and reviewing joint venture agreements and investment agreements based on its extensive experience. If you need legal advice regarding joint venture establishment, investment agreement review, and drafting and reviewing joint venture agreements and investment agreements, please feel free to contact Law firm Veat at any time.

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Law firm Veat