Collaboration Contract
Collaboration Contract
This Project Collaboration Contract (hereafter referred to as the "Contract") is made and entered into this [EFFECTIVE DATE] (the "Effective Date"), between [YOUR COMPANY NAME], of [YOUR COMPANY ADDRESS] (hereinafter referred to as the "Business Owner") and [Collaborator's Legal Name], of [Collaborator's Address] (hereinafter referred to as the "Collaborator").
1. Purpose of the Contract
The purpose of this Agreement is to define the terms and conditions under which the Business Owner and the Collaborator will work collectively on a specific project or venture (the "Project"), as described in more detail in the attached Project Description.
2. Scope of Work
The Collaborator agrees to undertake and complete the Project as described in Exhibit ‘A’ to this Agreement, attached hereto and incorporated by reference (the "Work").
3. Term
This Agreement will commence as of the Effective Date and will continue until June 30, 2050, unless sooner terminated as provided in this Agreement.
4. Compensation and Payment Terms
The Business Owner shall pay the Collaborator a total consideration of $5,000 (Five thousand dollars) for all the Work to be performed under this Agreement. This amount will be payable as follows: 50% upon signing this Agreement, and 50% upon completion of the Project, as outlined in the Payment Schedule in Exhibit ‘B’.
5. Ownership and Rights
All the work products, results, and materials developed in the course of the performance of the Work (hereinafter referred to as "Results and Proceeds") will be the sole property of the Business Owner, who will have full rights over them.
6. Confidentiality
Both parties agree not to disclose any confidential information obtained during the collaboration unless required for its successful completion or unless expressly allowed by the other party.
7. Termination
The Agreement may be terminated by either party by giving a written notice of 30 days to the other party. Upon termination of the Agreement, any outstanding payments shall be settled within 15 days.
8. Dispute Resolution
Any disputes arising out of or in connection with this Agreement will first be addressed by amicable negotiations between the parties, failing which, they will be settled by arbitration or court proceedings.
9. GOVERNING LAW
This Contract shall be governed by and construed in accordance with the laws of the [ Governing Jurisdiction].
IN WITNESS WHEREOF, the parties have executed this Agreement, as of the Effective Date mentioned above.
[YOUR COMPANY NAME]
[DATE SIGNED]
[COLLABORATOR'S NAME]
[DATE SIGNED]
