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Most managers in an international business are likely to be involved with international joint ventures (IJVs) during their career. IJVs have a greater chance of success if the businesses involved have good advisers on their teams. However, it can be a challenge to know what advisers to hire and how best to utilize their expertise. Drawing on their extensive career experience, the authors recommend best practices for hiring and working with international joint venture advisers based on three perspectives: legal, business, and academic. The possible roles of advisers, value versus cost of advisers, and what to look for and avoid when hiring advisers are outlined and framed within specific business examples.

Most managers in an international business are likely to be involved with international joint ventures (IJVs) during their career. IJVs have a greater chance of success if the businesses involved have good advisers on their teams. However, it can be a challenge to know what advisers to hire and how best to utilize their expertise. Drawing on their extensive career experience, the authors recommend best practices for hiring and working with international joint venture advisers based on three perspectives: legal, business, and academic. The possible roles of advisers, value versus cost of advisers, and what to look for and avoid when hiring advisers are outlined and framed within specific business examples.