Transcript of the above video:

As the title of this video suggests, we are discussing Joint Venture agreements in Thailand. The whole term Joint Venture in my mind, is a little bit loaded especially from my experience here in Thailand because many foreign nationals come to Thailand, they have kind of a notion and I am not picking out any one nationality, I have noticed different nationalities have different notions of what a Joint Venture agreement entails. When they come to Thailand, they kind of bring along their preconceived notions with them and that can lead to some confusion. 

So to be clear, a Joint Venture could be a lot of different things. You could have a contract between two individuals or between two corporate entities that reflects an agreement to operate jointly and do business etc. Certain types of partnerships can, again either between individuals or even corporations, can reflect a Joint Venture sentiment if you will or Joint Venture paradigm. Again contracts, partnerships, even constructing a corporation with specific Articles of Association and things can be utilized. Now that gets a little bit tricky, you get into hardcore corporate law dealing with that. At the same time I found that Joint Venture agreements that are just operating as a contract, might not provide the resilience that people really want when the rubber hits the road, especially in the event of litigation. 

So the thing to keep in mind with respect to this video, the thing to understand is a Joint Venture, that's just kind of used, it's almost I won't say a euphemism, it is almost like a cliché at least in my mind because, cliché is the wrong word, it is just people when they come to us and contact us about Joint Venture, it seems like everybody has their own version of what that is. Everybody thinks that is something different. So rather than kind of getting into the rut if you will of saying I want a Joint Venture in Thailand with such and such, well maybe you do maybe you don't. It might not be a terrible idea to contact a legal professional, go over all the different options - structurally, corporate structure, partnership structure, contract structure, contact drafting issues - go over all that stuff before wedding oneself to a specific course of action.