In the context of a commercial real estate joint venture, significant business decisions requiring either a majority, supermajority, or unanimous vote of the joint venture parties. The opportunity to vote on major decisions allows passive investors (often with a large equity percentage) to protect their investment and retain control, even though another member handles the day-to-day operations of the property.

The most common major decisions include:

For a comprehensive list of common major decisions found in a commercial real estate joint venture agreement, see Practice Note, Management of Real Estate Joint Ventures: Major Decisions and Control and Standard Clause, Major Decisions Clause in a 90/10 Real Estate Joint Venture.