Joint ventures are an important strategic alternative to acquisitions offering a risk sharing approach particularly when entering new international markets or where collaboration is essential to the development of new ideas or products.

Joint ventures can involve complex issues and legal structures and can take different forms including:

• Partnerships;
• Corporate joint ventures involving shareholder agreements;
• Joint ventures based on contractual arrangements or strategic alliances.

Joint ventures are commonplace particularly in the technology and media sectors. Our work with some of the world's leading companies in these sectors puts us at the forefront of helping to design innovative joint venture structures. This experience enables us to identify, and resolve, the key issues arising on any joint venture - from the initial structuring (in a tax efficient manner), through funding (via cash and non-cash commitments), profit sharing and governance arrangements during the life of the venture and, ultimately, the introduction of new stakeholders alongside, or exit arrangements required by, the joint venture parties. Our international reach allows us to advise on any cross-border issues, including local market practice, that will often arise.   

Joint ventures are also prevalent in the real estate sector where collaboration allows parties to harness complementary skills, experience and finance to undertake larger and complex projects. We regularly advise on joint ventures in the real estate sector, often involving off shore jurisdictions and innovative tax-efficient structures.

These joint venture arrangements will frequently also involve the Olswang corporate group working alongside colleagues in our Regulatory, Tax, Intellectual Property and Employment groups.

BBC Worldwide Limtied - advised BBC Worldwide on each of the £156 million sale to Discovery of its 50% state of the global channel network Animal Planet, its rights as a 50% shareholder in UKTV on the sale by Virgin Media of its 50% stake to Scripps Networks for a total consideration (including Virgin Media's equity and debt interests) of £339 million, its rights to buy out Woolworths Group plc's stake in 2entertain following the insolvency of Woolworths, and on establishing each of Woodland Books Limited (with The Random House Group), Educational Publishers LLP (with Pearson Education) and Children's Character Books Limited (with Penguin Books).

Shine Limited - advised Shine, the television production company founded by Elisabeth Murdoch, on implementing its international growth strategy via joint ventures with key creatives in each of Australia, France, Germany and Spain and establishing Shine Pictures LLP (with New Regency).

ITE Group plc - advised ITE Group plc on its entry into a joint venture between the existing shareholders of the JV company, Scoop International Fashion Limited and International Trade and Exhibitions (JV) Limited.

Delancey - advised Delancey on its joint venture with Qatari Diar in relation to the purchase of the Olympic Village in Stratford, London. The companies owning the site were acquired from the Olympic Delivery Authority for £557 million.

PBJ Management Limited - advised well-known creative television executive, Clive Tulloh, on the establishment of the new independent production company Burning Bright Productions Limited, in which BBC Worldwide has taken a 25% stake.  

Heron International - advised Heron on a joint venture with AREA Property Partners in relation to the development of The Heron, a luxury 38 floor residential tower adjoining the Barbican in the City of London.

Reliance Big Entertainment Pvt Ltd - advised Reliance Big Entertainment US, Inc. on establishing The Motion Picture Finance Company, an independent film finance joint venture with Leon Clarance.

Attheraces Limited - advised Attheraces on its joint venture with Racing UK to establish GBI Racing for the international distribution of British and Irish horseracing.