significant changes in the nature of the − JVC’s business; major acquisitions or disposals; − annual revenue/capital budget; − capital expenditure or contract commitments above pre-agreed limits; − borrowing limits; − dividend policy; − appointment and dismissal of key management; − material dealings with intellectual property rights; and − between the JVC and its shareholders (except, perhaps, −dealings arms’ length dealings in the ordinary course of business). 4. Minority Protection If a minority participant is involved, it will wish to protect its interests through: - · participating in management through board representation; · being involved in major decisions (including, possibly, a right of veto); · protecting against its equity stake being improperly diluted; · ensuring proper distribution of profits; · establishing adequate access to information regarding the joint and venture’s affairs;
− significant changes in the nature of the JVC’s business; − major acquisitions or disposals; − annual revenue/capital budget; − capital expenditure or contract commitments above pre-agreed limits; − borrowing limits; − dividend policy; − appointment and dismissal of key management; − material dealings with intellectual property rights; and −dealings between the JVC and its shareholders (except, perhaps, arms’ length dealings in the ordinary course of business). 4. Minority Protection If a minority participant is involved, it will wish to protect its interests through: - · participating in management through board representation; · being involved in major decisions (including, possibly, a right of veto); · protecting against its equity stake being improperly diluted; · ensuring proper distribution of profits; · establishing adequate access to information regarding the joint venture’s affairs; and