A Comparative Study of the Nature of Joint Venture Contract Considering Imami Jurisprudence, Civil Law and Commerce of Iran

Abstract

Modern technology, raw materials and efficient manpower, which are the factors of economic progress, are unequally distributed around the world, and the only establishment of rights that can make the economic plan possible while preserving the interests of the owners of these elements is joint venture. Joint investment in joint venture is a kind of business cooperation, where the parties are partners in the management of the economic plan and profits and losses. As compared to Imami Jurisprudence, the commercial law is totally different, especially in the need for a joint venture and the lack of common ownership in national resources and intellectual contributions. A closer look shows that for companies that have a separate legal personality from their partners, the idea of ​​creating legal personality in a joint venture contract is against the real intention of the partners. According to various laws such as the Foreign Investment Encouragement and Protection Law of 2002 and the third paragraph of Section "T" of Article 3 of the Law on Duties and Powers of the Ministry of Oil of 2012, a joint venture contract is identified as a general rule. The generalities of the joint venture contract can be found in Article 190 of the Civil Code and the principle of contractual freedom in Article 10 of the Civil Code.

Keywords

• principle of contractual freedom
• joint venture contract
• legal personality
• civil company
• practical company