Can a JV agreement be used if the ultimate JV is one of the two JV partners? A + B = B (with A owning a portion of B and B contributing daily management etc)? Not sure how to draft that from a form agreement.

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Could you have a SPV for the JV with A owning the majority of the equity and B entering into a MSA at cost/for equity? Then also a Shareholders’ Agreement between A and the other owners of B?

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Thanks and that sounds like a good solution. I just found out whoever drafted the term sheet made a mistake and I was freaking for no reason. The JV partner was actually a group of individuals 🙄

One question that hasn’t been addressed: which watch holds its resale better value? At dinner last night I showed a friend of mine this post and he immediately went for the Rolex—and he already has a few. His answer: it holds its resale value better. He’s eternally the pragmatist, but is he right?

Yeah. After discussing Rolex v. A. Lange resale value we started discussing Wittgenstein and Anti-Metaphysical Readings of the Tractatus. Actually we discussed Gucci’s Fall/Winter 2021 collection. I think Gucci has gotten completely trashy. He disagrees. We are deep!

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