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joint ventures are becoming increasingly popular in the agricultural industry and provide options for farmers who perhaps want to share the workload or are considering taking a step back from farming or landowners who would prefer not to farm in-hand. There are a number of different joint venture agreements available, and the type of model to use will often depend on several factors. This Practice Note will look at various joint venture models in terms of what they are, the factors to be considered when deciding which model would be best for the parties to use, how each model is formed and various other factors which need to be taken into account when advising clients.

At the outset, it is important to note that the various structures available are interchangeable: the parties may start with a licence to occupy so that they have an opportunity to get to know each other before moving on to a partnership or share farming model, which could in turn change to a farm business tenancy if the landowner wants to retire