About Joint Venture
A joint venture is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance.
Now That's What I Call Music turns 40: Forty facts about the compilation giant
... By contrast, Now was a Joint Venture between two of the UK s biggest record labels, EMI and Virgin, giving compilers immediate access to the day s biggest songs...
Telegraph: Ministers may order probe into newspaper's sale
... However, on Monday RedBird IMI investment fund, which is a Joint Venture between US firm RedBird Capital and International Media Investments (IMI) of Abu Dhabi, confirmed it had reached a deal with the Barclays...
Abu Dhabi-backed fund poised to take over Telegraph
... However, on Monday the investment fund, which is a Joint Venture between US firm RedBird Capital and International Media Investments (IMI) of Abu Dhabi, confirmed it had reached a deal with the Barclays...
James Webb telescope: Baby star launches giant jets and shocks
... JWST is a Joint Venture between the US, European and Canadian space agencies...
Britishvolt aims to supply batteries to Australian military
... However, people close to the matter claimed a wealthy European investor " with strong industrial products and infrastructure ties" has been lined up to fund the land deal, and a new proposed structure would ultimately see Recharge Industries rent the coveted site from a Joint Venture majority-owned by property investors Tritax, which is backed by huge fund management group Abrdn...
Scotland's biggest offshore wind farm at full power
... Emissions targetsSeagreen is a Joint Venture between TotalEnergies and SSE Renewables...
Jason Derulo sued for sexual harassment by fellow singer
... She lists Derulo, his manager Frank Harris, Atlantic Records, RCA Records and Derulo s Future History imprint - a Joint Venture with RCA - in the case...
Ukraine war: Burger King still open in Russia despite pledge to exit
... RBI, one of the world s largest fast-food restaurant companies, has cited its The deal is a Joint Venture with three other partners for some 800 restaurants...
Ukraine war: Burger King still open in Russia despite pledge to exit
By Michael RaceBusiness reporter, BBC News
Burger King remains open as usual in Russia despite the brand's owner pledging to leave More Than a year ago.
Restaurant Brands International (RBI), which owns 15% of the fast-food's franchise business in Russia , told The Bbc it had " no new updates to share at this time" on its exit.
The Firm said in March 2022 that it had started The Process to leave Russia .
Since the outbreak of The War in Ukraine, Western companies have been Under Pressure to leave Russia .
Critics accused RBI of " sustaining Putin's regime" by failing to ditch its stake in its Russian business.
RBI, one of The World 's largest fast-food restaurant companies, has cited its
The Deal is a Joint Venture with three other partners for some 800 restaurants.
David Shear, RBI's president, said in March 2022 that Burger King 's main operator in Russia had " refused" to shut The Outlets following The First attacks on Ukraine.
But he added that The Company had " started The Process " to dispose if its 15% ownership stake and that it would take " some time".
Asked by The Bbc about the progress made 18 Months on from The Pledge , a spokesperson for the Canadian-American company said The Firm had no updates.
Steven Tian, part of a team of researchers at Yale University who, argued using franchise agreements as an " excuse" was a " convenient smokescreen". He pointed out that the likes of Starbucks had
" Saying they [RBI] want to leave but then dragging their feet is not the same as actually exiting Russia , and by continuing to do business in Russia 18 Months into Putin's invasion of Ukraine, they are sustaining Putin's regime, " He Said .
The spokesperson for RBI said The Company was refusing new investment and supply chain support, and had not made any profits from Burger King in Russia since early 2022.
'Do The Right thing'Mark Dixon, founder of the Moral Rating Agency, which campaigns against firms doing business in Russia , called for RBI to disclose what specific actions it had taken in its attempts to leave.
" [The Firm ] should be willing to break its Agreement . . It needs to accept the legal risk of doing The Right thing. "
Franchising is a business method of distributing products or services. It involves a franchisor, a company that has established the brand's name, and a franchisee, a company that pays a fee for The Right to do business under the brand and to sell its products.
It has been a tool used by many Western brands in recent decades looking to enter new markets in different countries. The agreements typically span many years.
While Burger King remains open for business in Russia , its biggest rival McDonald's, which corporately owned most of its restaurants, has managed to leave the country.
KFC's parent company Yum! Brands has also sold More Than 100 restaurants to a local operator in Russia ,
David Bond , partner at Law Firm Fieldfisher, said RBI's 15% stake meant it could not simply " dictate terms" to its fellow shareholders to require them to close Burger King branches.
He also suggested companies that franchise out their brands would be reluctant to simply Walk Away from deals as it could lead to " dire consequences" including being sued for breach of contract, as well as reputational damage.
But He Said consequences aside, there was nothing stopping RBI from terminating The Franchise arrangement if it was adamant it wanted to do so, though added it might not result in the Burger King brand ceasing to exist in Russia .
He Said the majority of " de-brands" in the country, such as McDonald's, had been achieved through agreed sales with local businesspeople " willing to de-brand In Return for the discounted purchase price".
Who runs Burger King in Russia ?The Joint Venture that holds the Burger King franchise in Russia is made up of RBI and three other parties:
Related TopicsSource of news: bbc.com
Joint venture Photos
