McGuireWoods Richmond partner Michael Woodard and associate Jake Spilman co-authored the U.S. chapter of Lexology: Getting the Deal Through’s “Joint Ventures 2020,” providing a holistic review of key issues in the strategic pursuit of a joint venture, regardless of the form that joint venture takes.
Woodard, chair of the firm’s Mergers & Acquisitions and Corporate Transactions Department, and Spilman discussed the U.S. legal framework for joint ventures; management and governance issues; funding, commercialization and property issues; and other considerations. The authors noted that joint ventures tend to be bespoke and that a variety of considerations, including tax and regulatory restrictions, drive the decision-making behind the structuring of a joint venture.
Woodard and Spilman addressed more than 30 points that lawyers around the world need to know before pursuing a joint venture in the United States. They also identified three developments that will affect the structuring and pursuit of joint ventures in the United States in 2020 — the continued implementation of the Foreign Investment Risk Review Modernization Act of 2018, the U.S.-China trade war and the cut of the 2018 corporate tax rate to 21 percent.
