👉 The IOR, or International Organization for Standardization's Agreement on International Rules for Organizations, is an international treaty that establishes a set of standardized rules and procedures for the formation, operation, and dissolution of joint ventures (JVs) between companies from different countries. These agreements aim to provide a framework for clear communication, mutual understanding, and fair treatment among partners, thereby reducing legal uncertainties and conflicts. Key aspects include the rights and obligations of each party, mechanisms for dispute resolution, and procedures for the transfer of ownership or dissolution of the JV. The IOR seeks to harmonize international business practices, facilitating smoother cross-border collaborations and investments.
