Collaborative agreement (simple)

You would usually utilise this agreement if you were coming together with one or more other people with a specific goal in mind i.e. to develop a particular project or a particular product.

Sample

"A. The Parties have agreed to jointly develop the Project and have agreed upon certain matters relating to the manner in which the Project is to be conducted including the administration finance and management and upon certain other matters.

B. The Parties have agreed that their relationship must be governed by the terms and conditions of this Agreement.

1. CREATION OF PROJECT

1.1 As at the Commencement Date, the Parties will participate in the Project subject to these terms and conditions.

1.2 As at the Commencement Date the respective Participating Interests of the Parties must be:-

1.2.1 ?5? - ?7?

1.2.2 ?6? - ?8?

and the Parties will share Intellectual Property, Net Receipts and bear all Expenditure in proportion to such Participating Interest.

2. TERM

2.1 Unless earlier terminated pursuant to the terms of this Agreement, or earlier terminated by mutual agreement of the Parties, this Agreement must extend indefinitely from the Commencement Date or until such time as the Project is terminated by all of the Parties whichever is the later.

2.2 Prior to termination of this Agreement the Parties must undertake to and make a final accounting with respect to all contributions and entitlements, with respect to the partition and dissolution of the Project.

3. OPERATING COMMITTEE

3.1 All Project activities must be directed by an Operating Committee and such activities must include:-

3.1.1 the entering into of any onerous or long term contracts or commitments;

3.1.2 the borrowing of funds whether by overdraft or otherwise and whether secured or unsecured for the purpose of conducting Joint Venture activities; and

3.1.3 The employment of personnel for the Project.

3.2 Each Party must be entitled to appoint one member to the Operating Committee, to remove from office every member so appointed and to appoint a successor to any member so removed. Notice of such appointment and removal must be given to the other Party.

3.3 Each member of the Operating Committee may have an alternate to act for him in his absence from meetings of the Committee. Such alternate must be deemed a member of the Committee while so acting and must be appointed and removed as provided in Clause ????????"