Ivan Golubic, Executive Director of Gamma Corporate Development, maps out the steps of an ideal joint venture.
Ideally, both parties should approach the joint venture with trust and good faith. Define the KPIs and objectives of the JV so you can track progress. Select the leadership team so you can have a separate culture from the parent companies. Then create governance together with the roles and responsibilities of each parent. Lastly, exit strategy if things don’t work out.