Board Resolution for Joint Venture Agreement
Prepared by: [YOUR NAME]
Email: [YOUR EMAIL]
This resolution was passed by the Board of Directors of [YOUR COMPANY NAME] on January 15, 2050, at its principal office located at [YOUR COMPANY ADDRESS]. The resolution confirms the approval of a Joint Venture Agreement between [YOUR COMPANY NAME] and [PARTNER COMPANY NAME] for the purpose of [PROJECT OR BUSINESS OBJECTIVE].
I. Resolution Title and Purpose
The board of directors hereby resolves to approve the formation of a joint venture between [YOUR COMPANY NAME] and [PARTNER COMPANY NAME]. The primary purpose of this joint venture is to [BRIEF DESCRIPTION OF THE JOINT VENTURE'S OBJECTIVE, E.G., “EXPAND INTO ASIAN MARKETS” OR “DEVELOP NEW TECHNOLOGY”].
II. Approval of Joint Venture Terms
The board approves the following key terms of the Joint Venture Agreement:
Equity Distribution: Ownership will be split 50% for [YOUR COMPANY NAME] and 50% for [PARTNER COMPANY NAME].
Capital Contributions: Both parties will contribute $5 million USD to the joint venture by February 28, 2050.
Management Structure: The joint venture will have a co-CEO structure, with one CEO appointed by each party.
III. Designation of Authorized Representatives
The board designates [NAME AND TITLE, E.G., “JOHN SMITH, CEO”] to act on behalf of [YOUR COMPANY NAME] in all matters related to negotiating, signing, and executing the Joint Venture Agreement.
IV. Timeline for Execution
The timeline for completing the joint venture includes the following key milestones:
Milestone | Responsible Party | Deadline |
|---|
Draft Agreement | Legal Teams of Both Parties | January 30, 2050 |
Agreement Signing | Both Parties | February 10, 2050 |
Capital Contribution Deadline | Both Parties | February 28, 2050 |
Operational Launch | Joint Venture Team | March 15, 2050 |
V. Compliance and Reporting
The board confirms that all activities related to the joint venture shall comply with:
Applicable laws and regulations in the jurisdictions where the joint venture operates.
Reporting requirements as outlined in [YOUR COMPANY NAME]’s corporate bylaws.
VI. Financial and Strategic Goals
The joint venture aims to achieve the following:
Generate a projected annual revenue of $20 million USD by 2052.
Expand market reach into [SPECIFY REGION, E.G., “SOUTHEAST ASIA”] within the first 24 months of operation.
VII. Ratification and Next Steps
The resolution was unanimously adopted by the board of directors on January 15, 2050. Copies of the Joint Venture Agreement and related documents shall be submitted to the company secretary for filing. The board will convene on April 1, 2050, to assess progress and address any challenges in execution.
VIII. Certification
I, [SECRETARY’S NAME, TITLE, E.G., “JANE DOE, CORPORATE SECRETARY”], hereby certify that the above is a true and accurate copy of the resolution adopted by the board of directors on January 15, 2050.
[DATE]
This resolution formalizes [YOUR COMPANY NAME]’s commitment to entering a strategic partnership through the joint venture, providing a roadmap for collaboration and success.
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