Purpose: Used to formalize goals, roles and responsibilities between two or more parties.

Key Attributes: Formalizes JV culture, mission, methods, and operating structure. Identifies key risks and forms strategies to mitigate such risks. Includes analysis of the motivations, strengths and weaknesses of each party, as well as structures and systems to align each partners' interests. Examines tactics to commence or improve operations. Often lays out a roadmap detailing roles, responsibilities, and action- steps for each partner or founder. Typically includes metrics to measure and track progress. May include a financial model and PowerPoint presentation.

Who Needs It:

» New companies formed through the merger or joint venture of two or more entities
» Entrepreneurs considering adding a partner or acquiring another firm
» Established companies creating strategic partnerships.

What It Does:

» Gets all parties involved (management, employees, etc.) on the same page, sharing the same vision
» Reduces the risk and ambiguity inherent in new partnerships or joint ventures
» Provides a system for tracking and measuring the contributions and rewards of each party.

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