This form is used when a group is formed to do a project together and they need to come to terms with each other as to what they will do and how the profits will be split.
This version is especially good when a PUBLISHER, RECORD/FILM COMPANY, DISTRIBUTOR join forces for one project. One example of such an agreement may be when a smaller label and a larger label enter into an agreement for the larger label to help distribute, market and sell the smaller label's project. It also might be used when two labels put together a compilation record together. This agreement is usually used for only one project and not for an on going relationship. The joint venture becomes a new and separate business entity different from each company.