Third Party Protection in Shipping

Page 31


The factual context of shipping

Multilateral common enterprise

3.1 For the purposes of this book, the term ‘multilateral common enterprise’ is used to describe an informal venture between more than two parties. In order to flesh out this description, the definitions of ‘joint venture’ and ‘joint enterprise’ – both of which terms derive from partnership law and agency law – must first be addressed. ‘Joint venture’ refers to an established limited company, a partnership, or an unincorporated contractual association for a given purpose.1 Hewitt provides some context:

Joint venture refers to a range of collaborative business arrangements, the fundamental characteristics of a joint venture being collaboration between the participants involving a significant degree of integration between the joint ventures. The key element to be considered and agreed by the joint venturers is the degree and nature of that collaboration. Joint ventures may take the form of a contractual alliance, a partnership or a corporate joint venture.2

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