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Berberich intended to form another limited partnership that he
hoped would attract additional investors.
Whittaker and Berberich anticipated that any discoveries
resulting from research or experimentation activities on the
jojoba plants or from their domestication on the plantations
operated or managed by HJI or its affiliates (hereinafter
collectively referred to as Hyder Jojoba plantations) would be
shared with other jojoba plantation operators so that marketable
supplies of jojoba seed would be available. Whittaker recognized
that any information gathered about jojoba grown in one
environment might have no relevance to jojoba grown in a
different environment.
c. The Option and Joint Venture Agreement
On December 31, 1981, Berberich, as general partner of JDP,
and Whittaker, as president of HJI, additionally executed an
option and joint venture agreement.7 Under that agreement, HJI
was given an option, exercisable by notice to JDP not later than
September 15, 1986, to undertake the conversion of the small
plantation to a commercial farming operation if, not later than
August 1, 1986, the parties had agreed in writing that the R & D
Program had produced a strain of jojoba plant that they wished to
grow on a commercial basis.
7 We use the term joint venture for convenience. Such
designation should not be taken as a determination of the legal
effect of the option and joint venture agreement or of the nature
of any farming operations undertaken pursuant to such agreement.
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