If a joint venture is considered to be a particular partnership, the following characteristics are that the Commission will examine each joint venture with due consideration of the circumstances associated with it, including available information and time constraints, and will apply or, if necessary, depart from these guidelines flexibly. The partners embody the terms of their relationship in the partnership agreement and, after agreement from the SEC, the company receives a separate and separate right-wing personality from the partners [Hector S. de Leon, The Corporation Code of the Philippines Annotated 46, Rex Printing Company, Inc., 2002]. PCC recognizes that joint ventures are likely to have an impact on the business, but is also aware that these agreements can pose competition problems if they can lead to a significant reduction in competition (SLC) in the market in question. Joint ventures and other similar types of cooperation agreements are used to carry out commercial projects in order to generate economic benefits through the pooling of assets, skills and resources. Benefits include optimizing processes, eliminating layoffs and reducing costs for market participants. In the Philippines, a joint venture (JV) can be created, among other things, by one of the following schemes: (a) the creation of a new company; (b) the conclusion of a contractual joint venture; or (c) the acquisition of shares in an existing joint venture. The joint venture guidelines provided the basis for calculating registration thresholds for joint venture transactions and explained that a transaction was subject to reporting if the parties to a joint venture met both the size of the audit of the party and the size of the transaction audit. 3. Even if one co-shareholder transfers its shares to another, the acquirer does not participate in the joint venture with the others, unless all other joint ventures agree. This goes against the principle of delectus personarum. The Mergers and Acquisitions Office (MAO) of the Philippine Competition Commission (CPC) implements the guidelines for notification of joint ventures to provide explanations and explanations on (i) joint ventures; and (ii) the application of thresholds under the terms of application and regulations to joint ventures. If the partner of the joint venture intends to defer its contribution to the joint venture, the deferred contribution is part of the setting of the amount of the contribution to the joint venture, provided for by the joint enterprise agreement.
If the joint venture partners accept the transfer of assets constituting successive contributions that are not included in the joint enterprise agreement, the subsequent transfer of assets included in a subsequent agreement is considered to be part of the joint venture agreement within one (1) year. If the joint venture partners agree to transfer assets under conditions that may or may not occur, JV partners are required to notify the CCP within 30 days of compliance with this condition. 2. Each of the co-partners, with their private ownership, is responsible to the creditors of the joint venture in addition to their contributions to the joint venture. 5. Death, retirement, insolvency, civil prohibition or dissolution of a co-shareholder dissolve the joint venture. [Cesar L. Villanueva, Philippine Corporate Law 730-731, Rex Printing Company, 1998] It should be noted, however, that such a joint venture can be registered as a planned partnership: 1. It would have a legal personality distinct from that of any joint venture and distinct from that of the joint venture. We can`t do it all on our own. Sometimes you need help. We often need a joint venture.