Mitigating potential bribery-related risks associated with minority-owned and non-controlled joint ventures | Practical Law
This article examines sources of potential bribery-related liability associated with minority-owned or non-controlled joint venture relationships. Although the article focuses in particular upon the risks of liability under the US Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act 2010 (UK Bribery Act), the vast majority of the recommendations in this article also are relevant to the anti-bribery laws that have been adopted by other countries. This article also discusses joint venture-related legal risks emanating from the money laundering statutes that have been adopted by many countries. This article concludes with a discussion on steps that companies should consider taking to mitigate such bribery-related risks presented by joint ventures that they are considering joining in a minority-interest or non-control capacity.