Stourbridge firm advises Californian joint venture
Wall James Chappell, based in Stourbridge, has advised a California-based footwear company on an international joint venture. The law firm advised Freewaters as it prepares to enter both the North American and European markets.
Freewaters, which is a premium casual footwear brand, was advised by Philip Chapman, an associate in the firm's corporate department.
The Californian company is launching its brand simultaneously in North America and in Europe for the spring 2011 season, and has chosen to enter the European market through a joint venture.
Chapman said: "Joint ventures have become an important strategic option for many businesses as the traditional distributor model makes it very difficult to compete with global companies that go direct to market.
"The purpose of the joint venture agreement was to establish the basic rights and obligations of the parties and to ensure that the company and its business are established and run in accordance with the parties' objectives."
