Dive summary:

• A new template from the non-profit ConsensusDocs project is an LLC agreement that a range of professionals can use when crafting a legal entity for a joint-venture project on which they will work.
• The goal is to help contractors, project managers, architects, designers and others put together an organization that gets the most from pooled resources and expertise and to share risk fairly.
• ConsensusDocs that emphasizes a "project-first" approach in the agreements and contracts it crafts for professionals ton use, and the coalition's documents are endorsed by more than three dozen construction and design organizations.

From the article:

"In today’s market, we’re seeing an increase in joint ventures between general contractors, and the new joint venture document provides a solid contractual foundation for all involved parties," said Kory D. George, partner at Woods & Aitken LLP and chair of the ConsensusDocs joint venture working group.