A Mad (Cow) Joint Venture!
By Nina Kaufman, Esq.Remember the bovine spongiform encephalopathy (“Mad Cow”) scourge of the early 1990s? Well, with approximately 60 million head of cattle in beef processing plants at any one time in China, it should come as no surprise that a joint venture has been announced to develop a “Mad Cow” test there.
According to MarketWatch online, All Asia Licensing Inc. entered into a Letter of Intent last month with an international bio research and marketing firm to manufacture and distribute the test in China. In addition to a 50-50 revenue sharing arrangement, the Letter of Intent provides for the creation of a joint venture company.
Like all good letters of intent, this one is (purportedly — I’ve not read it) is subject to change, completion of due diligence by both parties, the creation of a final contract and approval of both Boards of Directors, among other things.
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