Every joint venture has two or more co-venturers. The co-venturers contribute to the joint venture with tangible and intangible assets. Hence, the co-venturers influence the joint venture through the following ways:
Several legal documents are prepared and maintained along with the joint venture agreement which spells the scope of the venture, types of decisions, approvals, percentage of votes, etc. Also, some terms and conditions are set for day to day working of the venture.
The co-venturers mutually decide amongst them as to how the staff required for the venture would be resourced. Also, the staff is introduced to each other for efficient working between them.
The employment of the existing staff is preferable as the venturers are known to them and their working style.
The co-venturers provide available technology and knowledge. Also sometimes the technology is hired and employed for the joint venture