Joint Interest
/ˈdʒɔɪnt ˈɪntərɪst/
Definitions
- (n.) An ownership or stake held jointly by two or more parties in a specific property, venture, or financial arrangement, especially in resource extraction or business partnerships.
The oil companies shared a joint interest in the drilling lease.
- (n.) A mutual benefit or shared goal pursued collectively by multiple parties.
The parties acted in their joint interest to resolve the dispute amicably.
Forms
- joint interest
- joint interests
Related terms
See also
Commentary
In drafting, specify the nature and extent of the joint interest to avoid ambiguity in rights and obligations among the parties.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.