A global partnership agreement defines the responsibilities of both the complementary partner and the silent partner. THE STATUS QUO plays a central role in the operation of joint ventures in three situations: (1) in day-to-day operations, where certain changes from the status quo require authorizations to maintain the status quo, (2) when a measure or trigger (for example. B a deadlock) obliges the parties to maintain the status quo; and (3) if the joint venture agreement does not address a particular situation, the status quo prevails. As a general rule, the management of the JV or the operator of a company may not make any substantial changes to the scope, business or assets of a joint venture without the prior approval of the board of directors or the owner. The threshold for approval by the board of directors or owner varies from company to company, but almost all joint venture agreements require the board of directors or owners to authorize substantial changes to the company`s operations, significant acquisitions or disposals of assets, changes in ownership and other substantial changes to the business. Therefore, in everyday life, when the board of directors or owners are not present, the company must operate within certain limits. In other words, it must maintain the status quo or something close to it. As with any government project and the vast majority of private projects, it is important that all companies involved are fully linked. However, bonding rules and rules can be more difficult in joint ventures.