The May 2015 Business Counselor Update includes updated and expanded coverage of one of the most well-known and important forms of strategic alliances: joint ventures. The library in Business Transactions Solutions now includes four chapters on the subject beginning with Structuring and Negotiating Joint Ventures (Ch. 248) and then continuing with chapters focusing on the life cycle of a joint venture: Formation of Joint Ventures (Ch. 249), Managing and Operating Joint Ventures (Ch. 250) and Termination of Joint Ventures (Ch. 251). Each chapter has an extensive library of forms and checklists and detailed commentary and practical aspects of setting up a joint venture and managing it successfully. Key topics includes categories and purposes of joint ventures, letters of intents, formation and operation agreements, ancillary agreements between the joint venture and the parties for various types of support to the joint venture, documentation for assignment of a joint venture interest, and dissolution agreements. To see the materials log on to Westlaw Next and search for Business Transactions Solutions.