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Like many policies, procedures, and programs designed and implemented in the corporate environment, workplace violence plans are typically designed by individuals, groups, or committees with absolutely no knowledge, understanding, or background in handling violence or aggression. And, as any self-protection expert, police officer, or soldier will tell you…

…what seems logical, rational, and sounds like it should work in a planning session, is usually exactly the opposite when the brown stuff is hitting the fan!

Here are 7 reasons why most workplace violence action plans are all-but worthless, especially when actual violence is occurring.

1. The individual or group charged with creating the plan has no background in the subject of effectively dealing with violence and aggression. As a result, their plan includes ineffective training or, worse yet, no training at all!

2. Everyone assumes that irrational and violent people can be rationed with.

3. Plans and policies like this are often nothing more than feel-good, cover-our-butt maneuvers designed to garner a promotion, a feather in someone’s cap, or as a company’s PR move.

4. Everyone’s focus is on prevention and not on troubleshooting. As a result, attention is placed on the prevention at the front-end and the reporting and disciplinary procedures at the back-end - leaving a huge hole in the middle!

5. Consultants are hired based on their own company size and prestige, rather than their background in dealing with danger and violence

6. Plans are limited to passive elements like banned weapons lists, zero-tolerance statements, and reporting policies, and totally avoid physical response in the case of an incident that was beyond prevention, and…

7. Workplace violence plans, like many elements of the business world, are governed and limited by budgets… until it’s too late!

And… like Virginia Tech, experts are again called in to look at…

…all the wrong things!

The good news is that, for most companies, your workplace violence plan doesn’t need to be scrapped. Chances are, it just needs to be completed. And once it has the necessary elements to balance it out, you will really have what you set out to have in the first place - a “liability-control” device.

While it may seem to be cheaper and more cost-effective to only focus on what everyone else is doing, it’s not everyone else’s business we’re talking about - it’s yours! And the cost, financially and otherwise, that can result from a workplace violence incident, can devastate a company. Sometimes for permanently.

The time and attention put into this policy, will be time well spent. Trust me. When you get this done right, and when your plan is complete…

…you’ll rest easier….

…your company will be a lot safer, and…

…you’re employees will have more faith and trust in you when you say you care.

Jeffrey Miller is the founder and CEO of Warrior Concepts Int’l. A consultant in the area of workplace violence defensive tactics training and conflict resolution, he can be reached via his website at http://www.wcinternational.com. Media and corporate inquiries call (in the US) (570) 988-2228.

Moving of any kind is never easy. Corporate relocation or even small company relocation is never simple! If you think moving your home and family from state to state is difficult try moving an entire company filled with employees. If you’re managing the project or considering taking on that task, then you need to know that your number one goal in a corporate move is to be as time and cost-efficient as possible to keep things running as smooth as possible. I have some tips that may work for you as it did for my company move.

First, don’t fool yourself into thinking that it’s o big deal. I have found that in order to increase the efficiency of a corporate move, you really need to have complete knowledge of what your new location will be like. You need to know how to rearrange the office to function efficiently as it did before. Will everything from machinery to employees have a place? The sooner you can implement routine the sooner employees can adjust.

I know it may seem like no big deal because you planned and executed a household move so why should a corporate move be any different. Don’t fool yourself into thinking that it’s that simple. Just like you would hire trained professionals to come and pack up your house contents you need to understand that there are companies that do just that for businesses, big or small, that know that it takes more than just packing a few boxes to get your company moved and set up again quickly so that your company can start to function again.

Second, don’t go it alone. Have you seriously given any consideration to what exactly goes into corporate relocating? You might want to consider consulting with specialized relocation companies who are trained in the handling of many aspects of corporate relocating, from logistics, packing, locating new housing for employees and office space the business moves of any size. This specialized and trained group of individuals can help from one employee to an entire office that is why it’s so important and crucial in finding a company who provides relocation solutions and who’s well-established and diverse in dealing with customers around the world. Isn’t that the important key element here, to start making money again?

Third, as an employee know what costs you’re responsible for. When it comes to relocating employees be aware that sometimes the company doesn’t cover all the costs involved with the move. Typically in a corporate relocation situation the company covers most or all of the moving costs, but it may or may not cover all the costs you will have incurred during the moving process. As you make plans for relocating, be sure you consider the following 5 questions:

1. What are the actual moving costs and are the moving costs paid by your employer?

2. Does this involve packing the entire household?

3. What if you own a boat, car or other vehicles?

4. Does the company pay to relocate those items as well?

5. Who will pay all or part of closing costs from the home you’re leaving to the home you will be moving into?

If your company decided to hire a professional company and you find that you’re in a situation where your company is not paying all the expenses, talk to your corporate relocation expert who is handling the relocation. These experts are trained and can provide you cost-of-living comparisons between your old and new homes, plus resources for spouse job searches, child and elder care. Take advantage of that to help you transition at your new location a bit easier for you and your family.

Planning is vital to a successful move. If you feel that you can’t really afford to hire professionals for the move look into a firm that offers consulting as an option. If you’re able to get a plan on what steps you need to take in order to plan out what will work for you then you can probably relocate your company without unnecessary troubles. Using a relocation company specialist will help guide you through a move and assist in servicing all of your moving needs with experts on staff to assist in every move,

Save yourself the stress of moving your company alone. Look into how a http://www.damovers.com/corporate-relocation-company/ can provide efficient http://www.damovers.com/corporate-relocation-services/ and offer their expertise in http://www.damovers.com/data-center-relocation/.

Small businesses are finding it more difficult to obtain financing and are the ones most adversely affected by the lending crunch because they are unable to obtain intermediate business lines of credit. Although the Fed has made concessions which include short term loans in the amount of $100 billion, small business owners have yet to benefit.

For the first time in decades credit is especially tight as the bursting of the housing bubble has spread misery across the financial system. Banks and investors become wary of lending funds to corporations, thereby driving up the price of debt products for borrowers.

Credit crunches are usually considered to be an extension of recessions. A credit crunch makes it nearly impossible for companies to borrow because lenders are scared of bankruptcies or defaults, which results in higher rates. The consequence is a prolonged recession (or slower recovery), which occurs as a result of the shrinking credit supply.

This credit crunch is unlike any other in the fact that banks actually have the money to lend but are scared to right very many loans. Banks are opting to play it safe by adhering to their strict requirements of a 680 credit score or higher and requesting tax returns for business lines of credit as low as $10,000. Before the credit crunch, it wasn’t uncommon to obtain a business line of credit with a 620 and tax returns weren’t required (except for lines over $50,000).

Doug Eddings, a 35-year-old small-business owner in Portland, OR, says three of his credit-card issuers all took steps in recent weeks to tighten his credit, either by raising his interest rate, halving his available credit or freezing his accounts. First, he received a notice from Chase in June notifying him that it was going to raise the interest rate on his Chase Amazon card to 29% from 17%. Soon after, another lender, HSBC Holdings PLC’s HSBC North America, dropped his $5,000 credit line on his Best Buy store card to $2,105 — just $5 above his current balance.

So what is a business in need of a loan to do? The best alternative in any market condition is to obtain trade lines of credit. Subsequently, trade lines of credit are the largest source of lending in the world, but the banks won’t tell you that. Trade credit is the extension of credit between two corporations. For instance, if you needed to buy a $10,000 copier, you could either obtain a line of credit from the bank and pay prime plus or go directly to the manufacture of the copy machine and ask them to sell you a copier on terms.

In most cases, the terms are more favorable and the requirements are less stringent because trade creditors don’t require personal guarantees (but they do require borrowers to be in compliance). Compliance is a set of standards that must be met to be considered a legitimate business.

We are different than many of our competitors because we only deal with creditors who do not require a personal guarantee. For more information about business lines of credit, trade lines of credit and compliance requirements, visit http://www.iusecorporatecredit.com

Welcome to this short article. In it we cover three areas of our industry which can cause confusion and lead to customers paying over the odds for translation services.

We share tips on what to look out for and present countermeasures you can deploy to protect yourself against costly mistakes.

“Campaign for Fair Translation Pricing” is a new initiative which we hope will help promote fairness and transparency across the industry.

It is not intended to be a sales pitch. Armed with this information, you will be in great shape to get the best deal, whichever company you choose.

1. CHECK YOUR JOB ISN’T BEING DONE ON THE CHEAP

Translation agencies are businesses and therefore there’s always the temptation to cut costs to inflate the bottom line.

Unlike almost any other product you buy, you are often not in a position to judge the quality of what you are paying for.

Think about it; even if you are no expert, it’s quite obvious that, say, a cheap flat-pack table is inferior in quality to one lovingly made by a master craftsman because you can see, feel and hence appreciate the difference.

By contrast, if you paid to have a page of English text translated into Mandarin Chinese, could you tell if it had been translated by an expert translator with 25 years experience or his 10 year old daughter? Most people would reluctantly have to answer ‘no’ - agencies know this.

Cheap translators are cheap for a reason. They are often based overseas, are unqualified, do not understand the subject matter of the documents they are translating and, critically, are not translating into their mother tongue.

I can’t stress highly enough the importance of using mother tongue translators. If there is one thing above all others which will help ensure you get a good quality translation it’s ensuring you use a mother tongue translator.

SUGGESTED COUNTERMEASURES

To help make sure you receive work of the standard you are being charged for, ask your translation agency if your translation is being carried out by a translator who:

a) Is translating into their mother tongue - accept no excuses. Some translators claim ‘mastery’ of a second language but, with the exception of very rare truly bilingual individuals, translators work best translating into their mother tongue.

b) Has translation qualifications to at least degree level. Simply having a second language does not make you a translator.

I have a carving knife; it does not make me a surgeon. Ours is an unregulated industry and anyone can claim to be a translator and undertake work as such.

c) Is a member of an appropriate professional body (Institute of Translators and Interpreters in the UK, in-country equivalents overseas). If they are serious about their career as a translator as opposed to just odd-jobbing for pocket money, require them to demonstrate it through membership or go elsewhere.

d) Has several years relevant commercial translating experience. Don’t pay top dollar for an inexperienced recent graduate. Practice makes perfect and there is no substitute.

e) Has subject matter expertise. If they don’t understand the text, they won’t produce a good translation no matter how good their translation skills.

2. DON’T LET THEM ‘NICKEL & DIME’ YOU

To ‘nickel & dime’ someone is an Americanism used to describe a sales tactic which entails adding many small additional charges to increase the final price far beyond original expectations.

Anyone who has purchased a new car will instantly recognise this strategy which accounts for the vast difference between the showroom price and the price on the road. Numbers plates? “They’re extra Sir/Madam” Air conditioning? “That’s extra Sir/Madam” Radio? “Extra.” etcetera.

Our industry just loves to ‘nickel & dime’, it’s a great way of getting more money out of you. Proof-reading? “Extra” Delivery by Monday morning? “Extra” Hard copy? “Extra” The list goes on.

Please don’t misunderstand me. I am not saying that extra charges should not be levied (indeed sometimes there is no choice), but there are two crucial points:

POINT 1: Extras should be fair, transparent and not used to bolster unrealistically low headline rates in order to win business on price.

POINT 2: You should be told about any extras BEFORE the work is commissioned and not afterwards when it is too late.

SUGGESTED COUNTERMEASURES

Request a detailed breakdown of the costs before you place the order. If you do not understand a line item, ask for clarification. The following will help you avoid the most common ‘nickel & dime’ tactics.

a) Most translation agencies charge on a ‘per word’ or ‘per thousand words’ basis. If they give you a fixed cost for the entire job, ask them what this equates to in terms of cost per word and use it as a benchmark for comparing prices.

b) Be wary of agencies that quote unrealistically low rates and add excessive extra charges for hard copies, proofreading and typesetting. These charges can be used to disguise the true final cost.

c) Be wary of hourly rates which are not quoted with corresponding estimated timescales as some activities such as proofreading and transcription can take much longer than you might imagine.

3. DON’T GET STUNG BY HIDDEN ‘WORD GROWTH’

Check whether your agency proposes to charge you by the number of words in the original document you ask them to translate or the number of words in the finished translation. If they say the latter, beware.

Charging by the number of words in the finished translation (target document) as opposed to the number of words in the document you submit for translation (source document) is one of the biggest scams in the business. Here’s why.

When a document is translated, the number of words in the finished document usually differs compared with the number of words in the original. Depending upon the language pair, the difference can be surprisingly large - up to 30%

This means that if your agency has quoted you a price based on the number of words in the finished translation your final bill could be 30% more than you were expecting.

We strongly disagree with charging on target rather than source as it gives unscrupulous translation companies licence to produce sloppy and long winded text just to inflate their invoice.

Think back to your school days. When you were told to write an essay which was, say, 5 pages long and you’d run out of ideas by page 3 what did you do? If you were like me, you just padded things out, right?

Accuracy is the hallmark of a good translation, not volume. Why give your translation company an incentive to waffle on at your expense?

SUGGESTED COUNTERMEASURES

Simply ask the translation agency to quote on the number of words in the document you provide to them, NOT on the number of words in the resulting translation.

When comparing quotes between companies, ensure all the quotes are based on the number of words in the source document and not the target document.
These precautions will ensure price comparisons are fair and the costs are clear before you commission the work.

Peter Bennett is founder and CEO of London Translations Limited, one of London’s fastest growing providers of business to business translation and interpreting services. Download a free copy of his buyers guide “Campaign For Fair Translation Pricing” from:
http://www.london-translations.co.uk/cfp

Recently my company experienced tremendous growth. We are now servicing customers in our entire state and just received several large contracts in a neighboring state. With this exponential growth I have decided to expand and establish an office in this new territory. I began researching corporate relocation. I wanted this to run as smoothly as possible and minimize my costs to maintain my profit margin.

Establishing a new office in another state takes time and organization. The first step is to research business requirements in the new state. This includes required business licenses, professional licensure, state tax laws and assistance for those employees who would be transferring to the new location. The key to a successful move like this will be to ensure the satisfaction of all employees involved. I enlisted the help of a company that specialized in corporate relocation.

This company was able to provide a number of services to the employees who are being transferred to the new state. They assisted with the sales of their homes, locating new homes, moving companies and gave everyone a single point of contact to use. This made the advanced team feel comfortable with their decision to accept their new assignment. I appreciated the invoice auditing services. I had authorized payment to the various moving companies, realty services, and other necessary services to make this transition as effortless as possible.

Corporate relocation takes quite a bit of organization. I established small teams within the advanced team. The first team was assigned to establish a location that would be convenient for traveling between both offices. The second team was responsible for obtaining all proper licensure for the business, employees and establishing our general business presence. One team was established to purchase the necessary office and service equipment. We wanted to provide a few employment opportunities in our new location. So it required an established human resource team.

After three months of planning, construction of new offices, preparing employees for their move and hiring some additional staff from the locality the move began. The corporate relocation company that we were using for our employees had hired top real estate agents that worked closely with everyone and most had sold their homes and purchased new ones. Moving companies were carefully packing and loading personal belongings. I received invoice audits for review to ensure proper payment. The new human resource team acquired the necessary accounts to ensure continued medical and financial benefits.

Finally we completed corporate relocation. All employees old and new were established in the new office building. Services went uninterrupted, customers were pleased, employees were satisfied with their decisions and we were granted more contracts it another state. The ordeal of opening yet another office loomed before us. We felt confident that we could do this again. We have already established a handbook for our company that will make this next transition go as smoothly as the first one.

Nir Dotan is a writer and promoter of cutting edge companies such as http://www.omegashipping.com around the world.

Perhaps you have been given the task at work of booking a hotel reservation either for yourself individually for a business trip or for a group of colleagues to get together for a meeting. If so, there are a number of specific points to bear in mind before making such a reservation.

First of all, it is unlikely that it will be suitable to go purely for the cheapest hotel, so be prepared to go for a little more in order to ensure that the people who are there to work can do so in comfort, able to get decent rest and ensure that there are enough facilities for them to do any work necessary. It may be the case that you or your colleagues will need to use a computer, possibly with internet access. If this is the case there are a couple of options available; either use your own dial up internet connection and plug it in to the hotel’s telephone point in your room.

This may not always be possible of course, and it might be worth checking with the hotel in advance if this can be arranged. Some hotels do offer internet access to all residents, but it is important to ask whether this is across the hotel as a whole or specific to a room or area and also whether it is just at specific times.

If you and your colleagues are meeting in the hotel for a meeting as well as staying overnight then you will need to find out about the availability of conference rooms. Points worth asking about will include not only about availability and cost but also how many people will be able to sit in there and what other facilities there are such as television and video, screens or walls on which to project displays, and internet access. If there is only one internet point in the room it might be worth taking a wireless router so that all members of the meeting are able to access the internet simultaneously.

The time and day you choose to book the hotel room will also have a big influence on the price. Generally most hotels anticipate the business meetings to take place on Fridays and Saturdays, and business rates are usually lower on these days. It is worth getting quotes from the hotels you are interested in for different days, to see how they compare.

Another aspect which has a big influence on the cost will be the location of the hotel itself. If the members of the work meeting will not have to leave the hotel as they will be both staying there and meeting in the conference room there, then it may not appear to be important to ensure that the hotel is located in the town centre or near some other popular amenity. If the hotel is further away from the typical tourist attractions, then the price will be substantially lower. However, it would also be worth considering the fact that these people may need to be travelling to this location, and therefore convenient access to the location from rail or bus networks might prove worth the extra money in order to provide greater convenience.

Victor Epand is an expert consultant about luggage, cruises, hotels, and shopping. You will find the best marketplace for luggage, cruises, hotels, and shopping at these sites: http://www.bags-luggage.info , http://www.hotels-cruises.info , and http://www.krishnadesign.com .

Moving is a hectic time with so many things to plan, so many things to handle and so much work that you feel like you are ready to blow. And this is just a domestic relocation. If you are relocating internationally, there are just so many other things to take care of, the major being your paper work. It is a herculean task to make the move successful and seamless.

International relocation takes a lot more than you can handle alone. Not only do you need to plan all sorts of things, you also need to know about the various laws, rules and regulations that will govern your move from one country to another. A good option is to hire expert services for moving. While all of us cannot afford to hire a relocation expert, you can still use the services of an international shipping company for stress free moving.

Most of us think that international shipping companies handle only industrial cargo and bookings for household goods can be done only through big international moving companies. But on the contrary there are lot companies that do take bookings directly from individuals and who will help you out in all aspects of the move. The key to a smoother relocation is to find the right international shipping company that will take away most of the burden of moving.

One of the first steps in finding the right international shipping company is to look for only those companies that deal with international relocations by individuals. The internet is the best place to search for these companies. You will find directories of international movers on the web. Through these directories you can refine your search to companies who have offices near you or a nearby town or ones that halt at the country you are relocating to. The websites of the international shipping companies give you complete information about the company, the destinations it covers the number and types of ships and aircrafts in its service, the dates of departure and so on. You can call in quotes online after giving all your details on the site.

You can reduce a lot of your stress if you choose an international shipping company that has a lot of international shipping experience. The more experienced the company is the more professional they will be in handling your move. as international shipping companies operate in a lot of country, they are better equipped to handle your needs like transportation from the port to your destination. Many companies will arrange things like these for you through their international affiliations.

Some international shipping companies will even provide assistance in preparing your documents for the shipment. Such companies have agents or associates based in all major cities near you who will do your booking. These agents will guide you on the rules of the country you are moving to, formalities, documents and clearance and other such details. All shipping related documents like bill of lading, dock receipts and so on are generated by the company and are a part of the shipping cost.

A good international shipping company will help you make your international relocation a lot easier and smoother.

Nir Dotan is a writer and promoter of cutting edge companies such as http://www.omegashipping.com around the world.

Although consistent efforts have been under way to bring minorities in the US to the mainstream social structure, lack of practical endeavor still marks the tragic absence of African-American entrepreneurs from the business arena. Although bids are consistently invited from black-owned enterprises (a step towards achieving racial fairness), African-Americans, who account for nearly 13.4% of the entire US populace, hardly own 5% American businesses, accounting for less than 0.5% of the total business financially.

It is a reality, even today, that African-American entrepreneurs obtain fewer opportunities and face more challenges in the business sector than the other minorities do. This definitely has a long history to it, dating back to the nineteenth century and is beyond simplistic calculations. To make things worse, a bias against black-owned businesses for not being competent is prevalent all the time, readily ignoring the statistically proven fact that such businesses do help one achieve better returns.

However, consistent efforts are needed to realize African-American freedom not only at the theoretical level, but also to a practical ground. One obvious way to achieve this objective is to encourage racial equality from a very young age. In addition to this, supporting business education and development among African-Americans is also essential. As more and more people turn to schools and colleges for business education and development, the new generation of black-owned business enterprises would be able to navigate their way easily and efficiently to the next level of achievement in American business.

Not only entrepreneurial education, but well-directed skill-set education also is an absolute necessity. Moreover, every individual of the community should do their part in helping themselves come at par with the mainstream society. Controlling the company budget and making adequate efforts for requesting bids from black-owned businesses (in terms of both professional services and commodities) is one of the inevitable stepladders towards the achievement of African-American business liberalization. In addition, managing efforts towards supplier diversity will also be of great import.

However, the major part is to be played by successful and established African-Americans entrepreneurs to give a little back and help educate the new entrepreneurs. This can work efficiently through personal rapport but the ideal way to go about it is through mass mobilization. For instance, Fortune 500 companies can assist the new and upcoming black-owned enterprises by investing a part of their pension funds in organizations enrolled under the National Association of Investment Companies (or NAIC). NAIC is a venture capital trade organization that makes major investments in minority enterprises.

Other steps should also be taken towards promoting enterprises owned by African-Americans at the level of practice, whereby a major responsibility lies with African-American entrepreneurs who have already made it big in the country.

Check out a variety of videos that are intended to give you a fresh point of view that you do not have to be born rich and that making money and wealth building secrets are LEARNED skills; very few people are born knowing how to build wealth.http://www.blackwealthsuccess.com

As the largest city in Maryland, Baltimore may seem like a great place to host large corporate events, but only if you have a local facilitator showing you the ropes and taking care of logistics. After all, big cities have often been compared to jungles and you don’t want attendees to feel like they got lost in the wild during the conference. There may be a lot to do in the city, but without a little help, finding the entertainment and getting there can be stressful enough to take the fun out of the trip. That is why so many companies turn to a professional corporate event facilitator when they hold their conferences in a large city like Baltimore.

In addition to making the conference fun for your attendees, a professional events planner can help you enjoy the conference as well. You will have a lot on your plate anyway because there is a lot to manage when you put together any kind of corporate event. Registration, speakers, meeting schedules, and accommodations are just the tip of the ice berg. So, if you want your corporate event planning in Baltimore to go as smoothly as possible, turn the logistics and entertainment over to someone else.

With local know-how and connections, a good event planning coordinator can show you and your attendees the best side of Baltimore. Let them coordinate transportation to and from the airport and tourist attractions to eliminate the need for parking. To fill up free time with fun activities, choose from their large selection of day-trips to tourist attractions in the city like the National Aquarium, Little Italy and Private Yachts in the city harbor. And enjoy banquets yourself by leaving the stress of finding decorations, menus and venues up to them. After all, this is their job and they have the equipment and experience that you lack to help everything run smoothly.

Corporate events can be a great way to teach employees, build teams and raise company enthusiasm and productivity. If you want to make them successful, they should be as fun as they are educational. That way, people will be eager to come back for more another year. It requires a lot of time and money to put them together, but companies continue to host them because of the results they yield. As long as you are investing so much time and money into its success, you might as well go the extra mile and hire someone who guarantees to meet all your needs.

GEP Baltimore is a local company with a lot experience in corporate event planning. Baltimore is their specialty and they are prepared to serve it up in style. To learn more about their services visit http://gepbaltimore.com. The author, Art Gib, is a freelance writer.

A joint venture agreement is a legal agreement detailing a joint venture. A joint venture is a partnership that is generally created to carry out a specific business project or transaction. Usually a joint venture is undertaken for a limited period of time. Typically, a joint venture will last for five to seven years.

For a joint venture, two or more companies will agree to share the risks, rewards, capital, human resources, and technology while forming a new company under mutual control. A joint venture agreement is generally formed for a particular project and will usually be dissolved once that project is finished. The members of the joint venture share all legal liabilities and are treated in the same way as a partnership when it comes to income taxes.

A joint venture agreement may be made for many different purposes. They are frequently used for real estate transactions when two or more individual want to develop a particularly piece of real estate. They are commonly used by companies in order to enter into a foreign market. A foreign company will often have a joint venture agreement with a domestic company that is already in that particular market. Generally the foreign company can contribute new technology and practices and the domestic company can contribute established relationships, required government documents, and their experience to the joint venture.

There are a number of benefits that come from forming a joint venture. One benefit is that it provides companies with an opportunity to gain expertise and capacity. It also enables companies to enter into a related business or new market, as well as gaining technology and expertise. While they are a legal “partnership,” they do not have to involve any sort of commitment long term.

On the other hand, the financial needs and risks are shared between the original parties for the duration of the joint venture which lowers the overall risk and financial obligation of the individual parties. Joint ventures often lead to the development of new products and technologies.

Of course, a joint venture agreement is not without risks. There are a number of potential pitfalls. The individuals or companies may find that they have different philosophies, expectations, or objectives for the venture. An imbalance may evolve in the degree of investment and proficiency that is brought by the individuals or companies. There may not be adequate support, identification, or compensation for management teams or superior leadership. The corporate styles and cultures of the partners in the joint venture may ultimately conflict. Any of these problems can lead to a loss of profit, investment, time and energy. It is even possible for legal battles to ensue.

The forms involved in creating a joint venture include the joint venture agreement, a memorandum of understanding, and any supplemental agreements. It is also necessary to obtain regulatory approval. This may be a time when it is worthwhile to consult with an attorney and have them draw up the required documents, although as is so often true in today’s internet age, it is possible to purchase uncompleted forms online.

Mark Warner is a Legal Research Analyst for RealDealDocs.com. RealDealDocs gives you insider access to millions of legal documents drafted by the top law firms in the US. Search over 10 million documents & clauses for Free at http://www.RealDealDocs.com