164	5  Cross-Border Corporate Activities

•In the case of a corporation (GmbH, AG) as a joint venture vehicle, how are the shares divided? Is a 50:50 split adequate?

•Minority protection: If a 50:50 split is not chosen, how is the party with a minority interest protected? (Participation in important decisions, veto right, protection against dilution of equity, distribution of profits, access to relevant information, ‘exit’rights etc.)?

•Non-compete clauses: What is the scope of non-compete clauses with regard to competitors of the parties to the joint venture?

•What happens in the case of a termination of the joint venture?

•What happens in the case of an insolvency of the joint venture vehicle?

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