Design professionals are often confused by the term “joint venture” and the implications for their liability when entering into this type of transaction.

Join Forrest Passerin to discuss various ways that design professionals can work together including joint ventures, partnering, traditional sub-consultant approach, creating legal entities including partnerships and other miscellaneous agreements.

You'll review the benefits and drawbacks to various transactions and learn how to capture the intent of the parties in the method of “teaming” that they choose. You'll also examine how these approaches impact professional liability and insurance coverage.

TAKEAWAYS:

• Understand the differences between joint ventures, partnering agreements, partnerships, and collaboration.
• Explore examples of the various methods that design professionals can team with each on a single or multiple projects basis.

• Discuss the benefits and drawbacks for design professionals in creating joint ventures and understand considerations in determining how to collaborate on projects.
• Learn differences in liability for their firm’s during their participation in joint ventures/teaming agreements/ partnerships and potential insurance concerns.