Decision Suggests Shift From Rigid Consideration of Joint Venture Elements

New York Law Journal

Lara A. Flath

Partner Lara Flath and associate Thania Charmani review a recent New York appellate court ruling that suggests potential increased flexibility with respect to pleading two key elements that have been “indispensable” to alleging the formation of a joint venture under state law: a concrete, final agreement (rather than an agreement to agree) and sharing of profit and losses.