Joint ventures (JVs) can be a powerful tool to improve a government contractor’s odds of winning federal contracts. With the SBA’s Mentor Protégé Program facilitating JVs and large multiple award contracts making many firms form JVs, an understanding of how JVs work from a legal and accounting perspective is a must.
PilieroMazza’s Tony Franco and Baker Tilly’s Tom Tagle discuss the most critical legal and accounting issues parties to JVs should know before joint venturing.
Learning objectives include:
- structuring the venture and sharing liability;
- financing the joint venture;
- managing the scope of work and conditions of the business;
- executing the scope of work and cost accounting considerations;
- cash and other distributions; and
- developing an exit strategy.