How to Protect Ownership Rights and Management Functions: Customizing the International Joint Venture

Ownership means the exercise of rights and not just owning a percentage of equity. The latter is how ownership is recognized in the law. One of the rights of ownership is management, which requires an active role with influence as to decisions and objectives. Titles without practical consequences are useless. All of these pragmatic outcomes will depend to a great extent on the internal legal structure of the joint venture and how it functions. The particular organization of a company is effectuated through the company articles, which define multiple aspects of how votes are heard and counted. The company articles are the rules affecting the collective voice of the company parliament.