Utah joint venture

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Joint venture: As a general rule, in order for a joint venture to exist there must be:

  1. a community of interest in the performance of the common purpose;
  2. a joint proprietary interest in the subject matter;
  3. a mutual right to control;
  4. a right to share in the profits; and
  5. unless there is an agreement to the contrary, a duty to share in any losses which may be sustained.

Ellsworth Paulsen Const. Co. v. 51-SPR-L.L.C., 2008 UT 28, 183 P.3d 248