The Joint Venture Dissolution Agreement is a crucial document used when parties decide to terminate their joint venture relationship in Nigeria. It becomes necessary when business partners agree to end their collaboration due to various reasons such as achieved objectives, strategic changes, or irreconcilable differences. The agreement must comply with Nigerian legal requirements, particularly the Companies and Allied Matters Act (CAMA) 2020 and relevant tax regulations. This document typically includes comprehensive provisions for asset division, liability allocation, employee arrangements, and ongoing obligations. It's particularly important in Nigeria's business environment, where joint ventures are common in sectors like oil and gas, manufacturing, and technology. The agreement helps prevent future disputes by clearly documenting the dissolution terms and ensuring all parties understand their rights and obligations during and after the separation process.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification of all joint venture partners and their legal details
2. Background: Brief history of the joint venture and context for dissolution
3. Definitions: Definitions of key terms used throughout the agreement
4. Effective Date of Dissolution: Specification of when the dissolution becomes effective
5. Dissolution Process: Step-by-step process for dissolving the joint venture
6. Asset Distribution: Details of how assets will be divided among partners
7. Liabilities and Debts: Allocation of existing liabilities and debts
8. Financial Settlement: Terms of financial settlements between parties
9. Confidentiality: Ongoing obligations regarding confidential information
10. Non-Compete and Non-Solicitation: Restrictions on future competitive activities
11. Mutual Release: Release of claims between parties
12. Dispute Resolution: Procedures for resolving any disputes arising from the dissolution
13. Governing Law: Confirmation of Nigerian law as governing law
14. Notices: Process for formal communications between parties
15. General Provisions: Standard boilerplate clauses including severability, entire agreement, etc.
1. Intellectual Property Rights: Distribution of IP rights where relevant to the joint venture
2. Employee Transfers: Arrangements for transferring employees between parties
3. Tax Provisions: Specific tax arrangements and obligations
4. Continuing Obligations: Any obligations that survive the dissolution
5. Transition Services: Arrangements for temporary continuation of certain services
6. Government Approvals: Process for obtaining necessary regulatory approvals
7. Insurance: Handling of insurance policies and claims
8. Environmental Matters: Environmental liabilities and obligations if applicable
1. Schedule 1 - Asset Register: Detailed list of all joint venture assets and their allocation
2. Schedule 2 - Financial Statements: Final accounts and financial position of the joint venture
3. Schedule 3 - Intellectual Property Register: List of IP rights and their disposition
4. Schedule 4 - Outstanding Contracts: List of contracts and their treatment post-dissolution
5. Schedule 5 - Employee List: Details of employees and their status post-dissolution
6. Schedule 6 - Settlement Calculations: Detailed calculations for financial settlements
7. Appendix A - Dissolution Timeline: Detailed timeline for implementing the dissolution
8. Appendix B - Required Notices: Templates for required notices to stakeholders
Find the exact document you need
Partnership Separation Agreement
A Nigerian law-governed agreement that formalizes partnership dissolution and establishes separation terms between business partners.
Download
Joint Venture Dissolution Agreement
A Nigerian law-governed agreement that formally dissolves a joint venture arrangement, detailing asset distribution and post-dissolution obligations.
Download
Contract Dissolution Agreement
A Nigerian law-governed agreement that formally terminates an existing contract between parties, outlining settlement terms and mutual releases.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)