As the construction industry continues to boom, joint ventures have become increasingly common for contractors. Entering into a joint venture with another company can have enormous upside: it can provide a contractor with access to a new market, a broader geographic reach, new building techniques or knowledge, access to new and evolving equipment, and additional financing and bonding capacity. Further, a joint venture instantly increases working capital, manpower, equipment, specialized expertise and talent, and other resources that can be committed to a large project. Lastly, by allocating risk associated with a project among two or more contractors, each contractor’s risk is reduced.