The Fundamentals of Joint Ventures in Construction
Presented by:
Richard E. Burnham
Trauner Consulting Services, Inc.
If you understand the risks of joint venturing and are prepared to meet them, the use of joint ventures may be a relatively low-cost, low-risk way to expand a contractor's experience, geographical market, and technical expertise. Owners will also benefit from learning more about joint ventures – what to look for and require of joint ventures and what having a joint venture performing their work may mean to them. This presentation will help owners understand that joint ventures may result in their work being performed by entities with broader experience and expertise, and greater financial capacity.
Learn why, in an industry that is filled with fiercely competitive and independent-minded risk-takers, we so often see competitors come together to form Joint Ventures to pursue and perform work on construction projects in the USA and around the world. This program will explore this paradox, and the participants will learn not only why it is happening, but how it can work for them.
The information-packed program will help you:
- Understand what a joint venture is and why are we seeing so many more.
- Review how the adverse economy is driving this phenomenon
- Learn how a joint venture gets formed and what you need to know about joint venture agreements
- Compare how owners, contractors, and sureties view joint ventures
- Determine the unique management challenges presented by joint ventures
- Learn how joint ventures can benefit your business
- Recognize the "basics" that you need to know about joint ventures
- Assess some common risks that are inherent in joint venturing and learn how they can be managed
- Be prepared for what could go wrong
The topics covered will include a look at joint ventures from the perspectives of owners, contractors, and sureties and — by doing so, describe how this form of association may, or may not, benefit each of them.
Listen to this 90-minute presentation to learn:
- What a joint venture is, and why they are becoming more common?
- How a joint venture gets formed, and what you need to know about joint venture agreements?
- What "Joint and Several Liability” is and why you need to learn about it?
- What you should expect from sureties, and what "Cross-Indemnity" means?
- What you should look for in a joint venture partner?
- What could possibly go wrong?
- And much, much more!
Who Will Benefit?
Contractors and owners (and attorneys for each) who are (or should be) interested in learning more about the pros and cons of joint ventures, and how to avoid some of the common pitfalls. This is not an abstract legal dissertation. Rather, it presents and discusses the issues surrounding Joint Ventures in a practical, common sense way.
Meet Your Presenter:
Richard E. Burnham, Director
Trauner Consulting Services, Inc.
Richard E. Burnham, construction industry executive and attorney, is director of Trauner Consulting Services, Inc. Mr. Burnham brings years of hands-on experience with all types of projects and a spectrum of contract delivery methods from a variety of perspectives. His past experience includes serving as a Vice President of a major international contractor whose $1+ billion annual revenue included major building and heavy construction projects for both public and private clients, a senior manager of a major engineering company, an advisor to public transportation agencies and an expert witness regarding the proper administration of Joint Ventures.
Mr. Burnham, a former adjunct professor at a highly regarded engineering college, has lectured on litigation avoidance, analysis of construction claims, and critical path method scheduling. He holds a B.A. degree in economics from Georgetown University and received his J.D. degree from Villanova University School of Law.
