Specify the Default Ownership Definition for a Joint Venture

You have the option to designate one ownership definition as the default.

The default ownership definition is assigned to all transactions that are identified for the joint venture in the Joint Venture Transactions work area. In this work area, you can override the default ownership definition with a different ownership definition if needed. For the default, it's recommended that you choose an ownership definition that covers the split of the majority of transactions in the joint venture, if possible.

If you’ve set up a carried interest ownership definition to process joint venture transactions according to the terms in a carried interest agreement, you can specify the carried interest ownership definition as the default ownership definition for the joint venture.

1. Access the Ownership definitions page for your joint venture definition.

2. Click the ownership definition that you want to use as the default.

3. On Edit Ownership Definition, select the Default Ownership Definition check box.