We are recognised in the market as experts in structuring and advising JV agreements and we believe that the following key factors clearly distinguish us from our competitors: shareholder shares in the joint venture can either be fixed or adjusted. In order to determine the shareholders` shares in the joint venture, the shareholders will generally hold different classes of shares and the rights enjoyed by each shareholder will be expressed in class rights that cannot be changed without renegotiation of the joint venture agreement and without amendment to the company`s constitutional documents. Where shareholders` interest in the joint venture can be changed, shareholder rights are generally linked to participation in a certain percentage of interest in the joint venture; This allows each shareholder to become more flexible if their interest in the joint venture increases/decreases and new shareholders can join without changing the joint venture agreement or the joint venture`s constitutional documents. When the parties agree to a joint venture, there is generally a reasonable basis for considering that the parties have similar or consistent interests, which will facilitate decision-making at the shareholder level. In the case of a registered joint venture, directors have an obligation to promote the success of the company for the benefit of its members, which should in principle reconcile decision-making at board level and decision-making at shareholder level. There may be tax considerations about where important decisions are taken, as this may affect the tax domicile of the joint venture. Before including a reserved question at the shareholder level, you should consider the following: It is also worth noting that some reserved questions may be fashionable for a given period of time and are likely to be fashionable in response to the trends that prevail at that time, such as for example. B the question reserved for the first offers of parts. . . .