Utah joint venture

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