How contractors can mitigate the risks of joint ventures
Construction Dive
AI Article Summary
The article discusses the advantages of joint ventures (JVs) for construction firms, particularly in pooling resources for large projects. However, it emphasizes the importance of precise contract wording to prevent disputes between partners. Attorneys suggest that careful legal frameworks within JVs can mitigate risks and contribute to their successful implementation. Appropriately drafted contracts are crucial in ensuring smooth collaboration and minimizing legal conflicts.