Generally, a joint venture is an unincorporated business
formed by two or more persons. It is essentially a partnership
formed for a specific, limited purpose, and the laws governing
both are basically the same. Once the business purpose
of a joint venture is accomplished, it usually is dissolved.
There is no distinction between the taxation of a joint
venture and that of a partnership.
In most states, joint ventures are not recognized as legal
entities apart from their participants. Some states limit
the permissible acts of the joint venturers and their ability
to legally bind each other.
Joint ventures can also be conducted in corporate form.
Acquisition of Existing Companies
A foreign person may obtain shares in an existing US company.
A few industries are subject to restrictions on foreign ownership,
including those involving the exploitation of natural resources,
communications, shipping, nuclear and other power-generating
facilities, and aviation. Additionally, some states have
restricted foreign investment in real estate. Securities
and antitrust laws should also be considered when making
a stock investment in a US company.
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timely information, there can be no guarantee that such information
is accurate as of the date it is received or that it
will continue to be accurate in the future. No one should act on such information
without appropriate professional advice after a thorough
examination
of the particular situation.
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© 2006 KPMG LLP, the
Canadian member firm of KPMG International,
a Swiss cooperative. All rights
reserved."
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