The Social Sciences
ISSN: Online 1993-6125ISSN: Print 1818-5800
Abstract
In the business development, it is not only necessary to establish a formal business entity but also to establish a set of detailed laws and regulations related to the establishment of such business entity and as a result it may make it difficult for business legal entities. In order to overcome such matter, some thinkings are required to accommodate such matter, leading to a development of a new business field in the form of Joint Operation (JO). Joint Operation (JO) is one of a cooperation model between two parties or more with one party as the party having or providing facilities and another party as the owner or the provider of fund or capability or expertise to support the implementation of research or projects.The existence of Joint Operation (JO) is recognized and qualified as a business entity according to Indonesian laws and regulations. Joint Operation (JO) is not a formal legal entity but rather a “quasi legal entity” because it is established based on a mutual agreement without having to obtain a validation from the authorities. As a quasi legal entity, Joint Operation (JO) in taking actions may be represented by board of directors similar to other legal entities such as limited liability company, foundation or cooperative.
How to cite this article:
Irawan Soerodjo. The Existence of Joint Operation in The Perspective of Indonesian Legal Entity.
DOI: https://doi.org/10.36478/sscience.2018.1053.1061
URL: https://www.makhillpublications.co/view-article/1818-5800/sscience.2018.1053.1061