During my JV working experience, I realize you need a very committed local team, directly involved in the JVs operations and liaising with each of the company HQs. This would be the liaison team, on all issues from finance to technical activities.
In case of a 50:50 JV (from my point of view most difficult as non organization is usually consolidating), then an established and regularly meeting committee is essential to speed-up decisions and to keep information level and confidence high at both organizations.
