Stourbridge based law firm Wall James Chappell has advised a
Californian based company on an international joint venture.
Freewaters LLC, which is a premium casual footwear brand, was
advised by Philip Chapman, an associate in the firm's corporate
department.
Speaking of his work with Freewaters LLC, Philip said:
"Freewaters is launching their brand simultaneously in North
America and in Europe for the Spring 2011 season. They are an
ambitious company with strong ethical values and have chosen to
enter the EU market by way of a joint venture."
Philip went on to say: "Joint ventures have become an important
strategic option for many businesses as the traditional distributor
model makes it very difficult to compete with global companies that
go direct to market. The transaction called for a clear well
drafted joint venture agreement, articles of association and other
key documentation. The purpose of the joint venture agreement was
to establish the basic rights and obligations of the parties and to
ensure that the company and its business are established and run in
accordance with the parties' objectives."
Eli Marmar, Managing Director of Freewaters LLC, said: "Philip's
advice was invaluable in terms of his technical and commercial
knowledge. One important aspect of his work was advising on the
joint venture agreement, which provides clear decision making
procedures particularly in the case of avoiding any deadlock in
decision making."
Wall James Chappell was founded in 1830 and provides a
comprehensive legal service to both business and private
clients. The leading law firm is based in Stourbridge and provides
specialist advice to clients both locally and
internationally.