Draft a joint venture term sheet in minutes.
Most joint ventures don't fall apart over the big idea — they fall apart over terms nobody wrote down. Answer a few plain-English questions and our free AI Term Sheet Generator builds a structured draft covering contributions, profit split, governance, and exit terms — then connect with an independent business attorney before anyone signs anything.
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Build a real JV term sheet draft
Parties, purpose, contributions, profit split, governance, and exit terms — generated instantly from your answers, ready to print or take to an attorney.
Start the term sheet generator →General starting draft only, not legal advice. Have any agreement reviewed by a licensed attorney before signing.
Unclear terms are the #1 reason joint ventures go wrong
Two businesses agree to work together, everyone's excited, and the details get worked out "later." Later usually means a disagreement over money, credit, or control — with nothing in writing to settle it. A clear term sheet, even a general one, forces the conversation early, before it costs a relationship or a lawsuit.
AI JV Term Sheet Generator
Fill in the details below and we'll build a structured draft term sheet you can print, share with your JV partner, or bring to an attorney. This is a general starting draft only — not a binding agreement and not legal advice.
General starting draft only, not legal advice. Have any agreement reviewed by a licensed attorney before signing.
Your draft term sheet appears here
Fill in the details on the left and your structured draft, ready to copy or print, will show up right here.
What kind of joint venture are you structuring?
Joint ventures span far more than real estate deals. Here's the full landscape, in plain English.
Real Estate JVs
Developer + capital partner deals, from single properties to portfolios. Learn more →
Marketing / Co-Branding JVs
Two brands combining reach, audiences, or products for a campaign or launch.
Consulting / Professional Services JVs
Firms combining specialties to bid on or deliver larger engagements.
Product Development JVs
Combining R&D, manufacturing, or distribution to bring a product to market.
Structuring & Entity Choice
Contract-only JV vs. a separate JV LLC — how to decide. Learn more →
Profit & Loss Allocation
How contributions typically translate into a fair split. Learn more →
Agreement Essentials
The clauses every JV agreement should address before signing. Learn more →
Every JV topic
See the complete list of joint venture topics we cover.
Joint venture vs. general partnership vs. JV LLC
| Contract-only JV | General partnership | Separate JV LLC | |
|---|---|---|---|
| Typical duration | Project or time-limited | Ongoing, indefinite | Project-limited or ongoing |
| Liability protection | Generally none by itself | Generally none for general partners | Generally yes, for members |
| Setup complexity | Lowest — just a written agreement | Low, but often unintentional | Moderate — state filing required |
| Good fit for | A single defined project between established businesses | An ongoing shared business, generally not ideal for one-off deals | Larger deals, outside capital, or liability-sensitive projects |
A simplified, general overview — the right structure depends on your full situation and requirements vary by state. Speak with a licensed attorney before choosing.
AI JV-Structuring Assistant
Ask how JVs are typically structured, what a term sheet should cover, or how profit splits generally work. Ally gives general information only and will point you to a business attorney for anything specific to your deal.
General information · not legal advice · not a law firm
Trusted services & reference guides
Independent services and reference materials we point people toward. As an affiliate, we may earn a commission on qualifying purchases at no additional cost to you.
Document & formation services
LegalZoom
Online legal document services, including JV and partnership agreement drafting help.
Explore LegalZoom →Rocket Lawyer
Create documents yourself, with attorney advice available if you need it.
Learn more →Registered agent & LLC filing
If your JV forms a separate entity, formation and registered-agent services.
See options →Business broker network
Explore business partner matchmaking and broker-assisted deal sourcing.
Learn more →Reference books & guides
We are an independent information resource. Mentioning a service here is not an endorsement, and inclusion doesn't guarantee it's the right fit for your deal. See our advertising & affiliate disclosure.
JV structuring guides
Plain-English guides covering the questions most people search before forming a joint venture.
Joint venture FAQ
What is a joint venture term sheet?
Is a joint venture the same as a partnership?
How do you split profits in a joint venture?
Do I need a lawyer to form a joint venture?
What happens if a joint venture partner wants out early?
The Joint Venture Structuring Guide
A clear, no-jargon guide: how to structure a JV, a step-by-step term sheet checklist, and the exact questions to ask before signing. Yours instantly.
- How to choose between a contract JV, partnership, or JV LLC
- A step-by-step JV structuring checklist
- Questions to ask before you sign any JV agreement
- The clauses most JV agreements miss
Get the free guide
Two easy ways to get your JV reviewed
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