If a joint venturer secretly profits from a project that was supposed to be a venture-related deal, the other joint venturers may be awarded damages for the breach of loyalty.

Joint Venturer

An individual or entity that collaborates with another party in a joint venture, sharing in the risks and rewards of the business endeavor.

Breach of Loyalty

A failure to remain faithful to commitments or obligations, particularly in a fiduciary or trust-based context.

Damages

Compensation claimed by or awarded to a person for injury or loss caused by the wrongful act of another.