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Richard Raysman and Peter Brown Richard Raysman and Peter Brown

Like others, a joint venture to develop software is fraught with potential conflict. Particularly relevant to these joint ventures is the difficulty in foreseeing the ability of one party to furnish the technological expertise represented in the halcyon days when the parties execute the agreement and anticipate a generally smooth process. In addition, another pitfall of software-related joint ventures is the tendency of unforeseeable technological advances that moots the original purpose of the agreement because of the newfound obsolescence of the proposed software. Finally, in a highly technical joint venture, allocation of responsibility, particularly when the terms of the agreement are ambiguous, is rife with a potential dispute given that parties’ do not necessarily want to expend the time and funds on responsibilities that could shift the burden to that party.

 

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