: Legal Review of Joint Venturer’s Contract in Turkey’s Legal System and Recommendations for Iran

Joint ventures as a legal institution have contributed significantly to the expansion and development of international trade. Both kind of Joint ventures, contractual and entity types have been accepted and executed throughout the world. Although Turkish legal has no specific law on the issue and has not addressed JV directly, but it has been addressed indirectly in various laws, and its various dimensions have been investigated. The new Turkish law on Legal Commitments in twenty articles has reviewed the partnership agreement, which includes the contract of Joint ventures as well. Meantime, the law of Foreign Direct Investment plays critical role on Joint ventures. It is worth mentioning that in this regulation the principle of contractual freedom is emphasized. It has some substantive part regarding the amount of shareholding, the distribution of profits and losses between the parties, the decision-making process, the board of directors and management, the prohibition of competition between partners, Inspection, Changes in the structure of the JV, new partner process and termination of JV. On the shade of such regulations Turkish traders have got this opportunity to conclude JV agreements with foreign investors complying global standards and has had a positive impact on the development of foreign investment.