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Is a Joint Venture is Right For Your Practice?
Conducting due diligence on any potential partner is a top priority for practices considering joint ventures. Before entering into agreements with another entity, check into the credentials of the potential member(s), including the existence and availability of the resources, property, and human capital that potential partners bring to the joint venture. The ideal partner in a joint venture is one that has resources, skills, and assets that complement your own. The joint venture has to work contractually, but there should also be a good fit between the cultures of the two organizations.