Joint Ventures & Alliances
Under Article:59 of the Kuwaiti Company Law joint ventures are a contractual type of partnership relationship between at least two persons which has no independent legal personality and requires no formal establishment procedures. However, a venturer transacting for the joint venture bears unlimited liability toward third parties for such transaction. If the transacting venture is a non-Kuwaiti, then the Kuwaiti venture must serve as the non-Kuwaiti's guarantor in that transaction.
We are advising many joint ventures and strategic alliances who are taking keen interest in joint venture process. In this practice area of law, the relevant issues are such as: the ownership, protection of exploitation of the intellectual property rights, tax strategies and competition concern issues etc. We have represented various joint venture clients in different fields like, industrial sectors, manufacturing sectors, services sectors, automobile sectors and other sectors who are seeking partners with investment and commercialize new products and ideas for the projects seeking to pursue research and development for the projects jointly.