Legal Question in Business Law in Texas

Re: Joint Venture

Probably your biggest issue would be the ownership of the intellectual property should the JV dissolve or should the members have differences of opinion. You'll need to establish clearly who owns what and how they have access to your intellectual property (license, ownership, etc.) and how such access changes if the JV breaks up. The best time to do this is before the JV is formed, when everyone is still friendly. You will need to have some entity planning (to ensure the JV is the most appropriate business entity. Second, you will need to figure out the most appropriate mechanism to protect your intellectual property (patent, trade secret, etc.) After that, you willneed to set up contracts to license such property, and flesh out the business relationships.

Re: Joint Venture

Property ownership, allocation of earnings and expenses, control of the business entity, just to name a few.

Work with a business attorney to get everything sorted out before the business is formed.