We were instructed by our client, a leading distributor of industrial equipment, to advise on their proposed joint venture with a European manufacturing company.
Working closely with our clients and their accountants, we prepared a summary of all of the documents that would be needed to achieve our client’s intentions, and in a document entitled Heads of Terms, summarised the terms of each of the ten agreements we recommended including a shareholders agreement and articles of association for the joint venture company, and separate agreements for provision of management services, purchasing, distribution, IP Licence, hire of equipment, loans/security, service agreements and a lease.
We supported the clients in the negotiations of these Heads of Terms with the other proposed participant in the joint venture company and also advised on certain competition law issues which arose.
