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Collaboration Agreement

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Prepared for:
[FIRST PARTY/SECOND PARTY]

Prepared by:
[FIRST PARTY/SECOND PARTY]

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Collaboration Agreement

This Collaboration Agreement (hereinafter referred to as “Agreement”) is made and entered on [Date] between

[First Party Name], on behalf of [Company/Representation] (hereby referred to as the “First Party”)

and

[Second Party Name], on behalf of [Company/Representation], (hereby referred to as the “Second Party”)

The First Party and the Second Party shall be collectively referred to as “Parties” and individually as “Party”.

The relationship between the Partners is hereinafter referred to as “Collaboration”

The Parties wish to mutually engage in beneficial business, bound by the terms and conditions of the Agreement.

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Terms of the Agreement

1. Involved Parties

First Party

[Party Name]
[Party Company]
[Party Address] [Party City] [Party State/Region] [Party Zip]
[Party Contact Number]
[Party Email]

Second Party

[Party Name]
[Party Company]
[Party Address] 
[Party Contact Number]
[Party Email]

2. Purpose

The Parties wish to collaborate to establish the following purpose (hereinafter shall be referred to as “Purpose”).

[Purpose]

3. Term

The Collaboration shall come into effect upon the acceptance of the Agreement and shall remain in effect until the Purpose of the Collaboration is served, and all services are completed.

4. Authority

Joint Decisions
All significant decisions regarding the collaboration shall require agreement or a unanimous vote by the Parties.
Significant decisions will include but are not limited to, decisions regarding the nature of the services to be provided, eligibility for services provided through collaboration, and decisions regarding funding and budget to carry out the purpose of the collaboration.
Staffing
The Parties shall equally share all staffing responsibilities related to this Agreement.
The staffing responsibilities shall include providing personnel and financial resources to obtain additional personnel to achieve the Purpose.
Representatives
Each Party shall identify one person from their organization as a representative to act on their behalf in the Collaboration (hereinafter referred to as “Representative”).
Each Representative shall keep the Parties they represent and their companies informed about the pertinent facts of the Collaboration and all significant developments and milestones achieved towards the Purpose.

Party	Representative
First Party	[Representative Name]
Second Party	[Representative Name]

5. Resource Commitment, Funds, and Proceeds

The Parties in the Collaboration shall agree to share resources in the form of funds, time, efforts, workforce, equipment, technology, infrastructure, and other necessities to fulfill the Purpose.
The Parties shall equally share all forms of financial burdens, liabilities, obligations, or costs associated with the Collaboration.
If outside funding or credit is required to support the achievement of the Purpose, the Parties shall agree to procure such credit jointly and share in the responsibility to repay the same.
If one of the Parties provides additional capital above and beyond their equal share, that capital shall not grant them additional interest or control over the Collaboration. Instead, the capital shall be considered a loan and shall be repaid from the Collaboration proceeds.
Any remaining profits or proceeds shall be distributed equally amongst the parties to this collaboration agreement.

6. Additional Parties

Additional Parties shall be added at any time in the future by the unanimous decisions of the existing Parties.
The Additional Parties shall be bound by the terms and conditions of the Agreement.
The total number of Additional Parties shall not exceed [Number].
The Parties agree that an independent consultant shall be hired to carry out a risk assessment prior to beginning any work related to this Collaboration.

7. Collaboration Insurance

The Parties agree to maintain adequate insurance to cover their respective personnel and assets from damages, loss, or theft.
The Parties agree to name each other in their respective insurance policies and to indemnify and hold each other harmless in all cases save for those of gross or wilful misconduct or neglect.

8. Termination

The Collaboration may be terminated by the mutual or unanimous agreement of the Parties who have major shares of capital in the Collaboration.
All Parties shall notify in writing to other stakeholders in the Collaboration about the termination at least [Number of Days] days in advance.
Upon the decision to terminate the Collaboration, all Parties shall be notified by their Representatives, immediately.
All assets shall be distributed accordingly to all Parties upon the termination corresponding to the percent contributed by each Party unless made an exception in the Agreement.
All payments shall be made to the bank accounts of record for each Partner, upon dissolution of the Collaboration.
Upon termination of this Agreement, the Parties shall cease reproducing, advertising, marketing, and distributing any material or information about the Collaboration immediately.

9. Agreement Extension

This Agreement can be extended or amended upon the unanimous agreement of the Parties.
The decision of extension or amendment of the Agreement shall address the date, tenure of the extension, additions of new clauses or provisions in the Agreement, and must include the signature of the collaborating Parties.

10. Duty of Loyalty

No Party shall engage in any endeavors, ventures, business, whether directly or indirectly, that might prove competitive with the business of the Collaboration or that would be in direct conflict of interest to the Collaboration without the written consent of the other Parties.

11. Indemnification

The Parties each agree to indemnify and hold harmless the other Parties and their respective permitted successors and assigns against any losses, claims, damages, penalties, liabilities, punitive damages, expenses, reasonable legal fees of whatsoever kind or amount, which result from the negligence of or breach of this Agreement by the indemnifying party, its respective affiliate or successors and any assign that occurs in connection with this Agreement. This section remains in full force and effect even after the termination of the Agreement.

12. Arbitration

In the event of any dispute arising in and out of this Agreement between the Parties, it shall be resolved by Arbitration. There shall be [Number of Arbitrators] Arbitrators which shall be appointed by [Party Name]. The venue of Arbitration shall be [Venue/Location of Arbitration] and the seat shall be [State]. The Arbitrators' decision shall be final and will be binding on all the Parties.

13. Miscellaneous

Assignability: Neither Partner may assign this Agreement or the rights and obligations thereunder to any third party without the prior express written approval of the other Partner which shall not be unreasonably withheld.
Notices: Any notice required to be given to any of the Parties shall be delivered by certified mail, personal delivery, or overnight delivery paid for by the sender.
Force Majeure: Neither Partner shall be liable for any failure in performance of the obligation under this Agreement due to cause beyond that party's reasonable control (including and not limited to any pandemic, fire, strike, act or order of public authority, and other acts of God) during the pendency of such event.
Modification: No modification of this Agreement shall be made unless in writing, signed by all the Parties.
Severability: If any term, clause, or provision hereof is held invalid or unenforceable by a court of competent jurisdiction, all other terms will remain in full force and effect until the Agreement termination.
Governing Law and Jurisdiction: This Agreement shall be governed following the laws of the [State/Court/Region]. If the disputes under this Agreement cannot be resolved by Arbitration, they shall be resolved by litigation in the courts of the [State/Court/Region] including the federal courts therein, and the Parties all consent to the jurisdiction of such courts, agree to accept service of process by mail and hereby waive any jurisdictional or venue defenses otherwise available to it.
Legal and Binding Agreement: This Agreement is legal and binding amongst the Parties as stated above. This Agreement may be entered into and is legal and binding in the [State/Court/Region]. The Parties each represent that they have the authority to enter into this Agreement.
Entire Agreement: This Agreement constitutes the entire understanding of the Parties, and revokes and supersedes all prior agreements between the Parties, and is intended as a final expression of their Agreement. It shall not be modified or amended except in writing signed by the Parties hereto and specifically referring to this Agreement. This Agreement shall take precedence over any other documents which may conflict with this Agreement.

Acceptance and Signature

IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner prescribed by law as of the Effective Date mentioned above.

Signature

Assign signer 2

Name

Assign signer 2

Date

Assign signer 2

Signature

Assign signer 3

Name

Assign signer 3

Date

Assign signer 3

Witness

Signature

Assign signer 1

Name

Assign signer 1

Date

Assign signer 1

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What is a Collaboration Agreement?

A collaboration agreement is a legally-binding agreement that defines the relationship between two or more parties working together on a commercial project. The parties work together to achieve a mutual goal like developing a software, game, or an application.

These documents can be simple or complex depending on the type of project but the important point is they must specify the responsibilities of both parties and the results of the collaboration.

What is the need for a Collaboration Agreement?

A collaboration agreement should be signed by both individuals or businesses collaborating on a project. Joint ventures are simpler to manage when these contracts are in place, especially when each business is contributing its resources.

Collaboration agreements are contracts that establish a solid relationship between the collaborators by explicitly defining each party’s roles in the project. It is crucial to put the collaboration agreement in writing with all the relevant terms. This ensures smooth collaboration between the parties and avoids unnecessary conflicts.

Essential segments in a Collaboration Agreement

A collaboration agreement must describe the project details, resources needed, and the project schedule (from when work on it will start and when it will formally conclude).

Also, it should include details in the document that clarifies what each party shall deliver and accomplish to achieve their shared objective. For instance, one business shall offer services while another is responsible for the project's financing.

Since projects frequently alter course as they advance, a review clause could also be beneficial. This provision will provide quicker amendments to the original agreement.

Let us learn more about the different sections in a collaboration agreement:

Involved Parties

This section shall talk about the different parties involved in the agreement. Additionally, you can also mention the personal information of the involved parties such as an address, email ID, contact number, etc.

Purpose

In this section, specify the reason behind this agreement, i.e., the project information. You can mention the project description, resources needed, project start date and end date, etc.

Term

Specify the period when the agreement shall take effect. You can also specify the terms to be followed in the cases of extending the agreement.

Collaboration Details

In this section, talk about collaboration-related information such as:

Division of authority wherein each company shall decide who is in charge of which department
Maintaining adequate insurance using which both organizations can protect their assets from damage, loss, or theft
Representatives from each company shall act for their company and inform the stakeholders about the advancement of the project
Joint decisions of both parties will be included and not limited to just service provided and funds raised. It will be applied to every decision made to accomplish the project
Staffing and service eligibility for them shall be determined individually by both the parties involved in the collaboration
Reporting and project management for the shared employees will be explicitly mentioned to avoid conflicts
Payments involved in the project shall be equally shared between the parties under all circumstances

Indemnification and Liability

Add this clause to your contract to ensure that both parties agree to not hold each other accountable for potential losses, damages, or penalties suffered during the course and completion of the project.

Intellectual Property Rights and Confidentiality

In this section, mention how intellectual property like copyrights, trademarks, design rights, and patents must be treated by respective parties. Also, specify the repercussions of compromising confidential information of the project in any event.

Arbitration

Here, talk about how to handle obligations and disputes arising from either party. Specify the number of arbitrators, where the arbitration would be held, and the governing law and jurisdiction that shall be followed for the resolution.

Termination

This clause is very vital in a contract as it talks about the circumstances in which the collaboration shall be terminated. It covers the conditions under which the agreement may be terminated, the parties who may do so, and the effects of the termination.

Acceptance and Signature

In this final section, add slots to record signatures and take consent from both parties. This acts like written approval to close the deal and kickstart the project.

Benefits of Revv’s Templates

With the help of Revv - document automation and e-signature software, you can quickly produce error-free documents using legally vetted, carefully constructed, and modifiable templates.

A collaboration agreement contains a lot of terms, clauses, and provisions that demand the support of legal authority. It is a lengthy and exhaustive document and writing it from scratch can cause errors. The best way to dodge these hassles is by taking advantage of ready-made templates.

Use Revv’s collaboration agreement template prior to the project commencement to finalize all the factors related to the collaboration between businesses.

Here are the benefits of using Revv’s templates:

Personalize the agreement based upon your business needs
Collaborate with your team to review the responsibilities of both parties
Integrate with other payment services to receive project-related costs
Create flawless agreements to work together with your customers
Download and save an offline copy of the agreement

Check out Revv’s advanced features that enhance your collaboration agreement template

Rich Editor

With Revv's user-friendly Rich Editor, you can tailor your collaboration agreement to your preferences. You can insert various blocks into the document using the drag and drop method, including text, tables, eSignature tags, etc. Additionally, you can import data directly into the agreement by linking Google Sheets.

Form Fields

You can cut down on repetitive tasks by converting the data in your agreement into form fields, which are fillable placeholders. With this, each form field only needs to be filled out once, and all subsequent occurrences of that field in the agreement will be filled out automatically. You also have the option to integrate and bring in data from external apps using Revv’s powerful data mapping tool - Data Studio.

Approval Workflows

When a document like a collaboration agreement involves a bunch of terms and clauses, it is wiser to get it reviewed by submitting it for internal approval to your coworkers. You don’t have to do it manually, Revv automates the process. If any approval workflow is attached to a clause, any changes made to the clause will trigger the associated workflow. As a result, the agreement will immediately be submitted to the approvers.

eSignatures

Sign and seal the agreement using Revv's swift, reliable, and secure eSignature service. It complies with national and international eSignature laws such as the eIDAS Regulation, UETA, and ESIGN Act. Using the built-in eSign functionality of Revv, you may send many agreements at once without the need for any other applications.

Additionally, Revv generates an Evidence Summary that serves as a legally admissible audit trail of the entire signature process.

Tracking and Notifications

Revv automatically notifies you through email whenever an action related to an agreement is done. With Revv, you may monitor the status of your agreement in real time. Every move your customer made about the agreement is visible to you, including when they opened it and when they signed it, among other things.

It’s GO time! Sign up with Revv for free, and draft an immaculate collaboration agreement for all your customers within minutes.

Frequently asked questions

How do you write a collaboration agreement?

You can write a collaboration agreement for businesses by adding the following sections - Parties involved, Purpose of the agreement, Term, Collaboration details, Indemnification and liability, Intellectual property rights, Confidentiality, Non-solicitation, Data protection, Arbitration, and Termination.

What is the purpose of a collaboration agreement?

The purpose of a collaboration agreement is to record all the information verbally decided by both parties to achieve a mutual goal. Once the contract is signed, it becomes a promise that certain services, rights, and obligations will be fulfilled by each party.

What is a collaborative partnership agreement?

A collaborative partnership agreement is a legal document that outlines how two or more parties have partnered to achieve a mutual objective. It also states the different roles and responsibilities each will handle during the course of the project and how each will benefit from the collaboration.

Which type of document is a collaboration agreement?

A collaboration agreement is a legal document that functions as both a commercial contract and a comprehensive project guide for the parties involved in the project.