Chapters 1 to 5 have set out the background and key issues associated with public sector JVs together with the approach to considering VfM in the context of existing appraisal guidance such as the Green Book. The following Chapters 6 to 8 are intended to provide guidance on some of the more detailed commercial and legal issues to be considered in the development of the JVs. The assets which the participants could contribute to the JV include staff, buildings, equipment, land, finance or intangible assets, e.g. intellectual property rights. These assets will form an important part of the structure of the business and should normally be provided under separate contracts (referred to in this guidance as subsidiary contracts) or directly through the JV agreement. The public sector body will normally contribute assets in return for equity in the JV, and it is therefore important that they are properly valued. Consideration should also be given at an early stage to how the assets should be dealt with on exit from or termination of the JV. This Chapter outlines some general considerations on tangible and intangible assets contributed by the public sector, and provides more details on: ● tangible assets including land and property; ● intellectual Property ("IP") provisions and considerations to take into account when the public sector contributes IP to the JV entity; and ● staffing and transfers of public sector staff to the JV entity. |