A project schedule can be entered as soon as the parties agree that a proposal can be formalized. Such a timetable will have no impact under the Cooperation Agreement (and will not be part of it) until it has been agreed and signed by all parties. The project schedule usually includes: I think that if a project is worth starting, it is worth giving it a year to determine if it will work. This clause therefore clarifies this expectation. If my partner does not contribute significantly to the success of the project during this period, I simply let the project « die » or assume that I will take it over. All profits, revenues and other revenues related to this Cooperation Agreement will be distributed as follows: Each Participating Employee has the option to revoke this Agreement upon written notice no later than 30 days prior to the date of termination. A cooperation agreement helps avoid uncertainty with your employee by clarifying the nature and scope of your relationship. Without a signed cooperation agreement, questions may be raised about the ownership and control of jointly created works, as well as the ability to dispose of the rights to the work. It is also important to determine what happens in case employees separate for some reason. PandaTip: This section of the template describes the process of making joint decisions and choosing agents for collaborative projects. A project collaboration agreement documents each party`s contribution to the project and sets out the conditions for cooperation between the parties, including each party`s obligations, project funding, treatment of confidential information, and how cooperation can be terminated.

The Parties shall also share any direct financial burdens, obligations or costs related to this Cooperation Agreement. If external financing or loans are required to support the achievement of the above-mentioned objectives, the Parties agree to jointly contract such loans and to share responsibility for the repayment of such debts. If a party provides additional capital in addition to its equal share, that capital does not grant it any additional interest or control over the cooperation. Instead, the capital is considered a loan and is repaid from the proceeds of cooperative efforts. If, after the first year, we agree to stop working on the project, we simply consider the agreement cancelled, write off all the amounts that the project owes us and put the software systems (if any) offline. Any money that belongs to the project is used to pay for unpaid expenses and then distributed proportionally according to the capital that the project owes us. Even the leanest product startups will still have expenses such as domain name registration and servers, and someone will have to pay for it. This agreement states that each party « makes » the costs of the project and expects them to be reimbursed sooner or later.

The Parties agree that an independent consultant will be engaged to carry out a risk assessment prior to the commencement of work related to this Cooperation Agreement. This Agreement will be irrevocable for a period of 12 months after signing (the « first year ») during which we will endeavor to complete early versions of the Project, market it to customers and make a profit. During this time, we will assess whether the project makes sense to both of us. Nowadays, it is increasingly likely that the one you are starting your new project with will be based in a different jurisdiction, perhaps in a completely different country. Rather than choosing a geographic jurisdiction, it is easier to say that disagreements over online dispute resolution (ODR), i.e. online arbitration, are resolved. It is important to determine what happens if only one of the partners is not interested in continuing work on the project after the initial testing phase. I prefer that there be some kind of redemption (even if it is only a symbolic amount) so that the request for resignation has some consideration and feels fairer and more valid. In the worst case, my partner would leave the project and then come back to claim compensation if it becomes a success later. This cooperation agreement is a relatively simple document that helps two or more parties describe their future project. If necessary, any controversy or claim relating to this Agreement will be resolved by neutral online arbitration.

PandaTip: The table of contents allows anyone reviewing this template via PandaDoc to click to access any section of the cooperation agreement template. Are there risks to such a light arrangement with respect to the actual cash investment in a project? Sure, but the idea is that the risk can start small while you experiment and find out if the project is even worth pursuing. We are committed to sharing responsibility for the equal management of the project and, as such, we will not make any business decisions without consulting the other. [PartyA.Company] (Part A) and [PartyB.Company] (Part B), collectively referred to as « Parties », each wish to enter into a mutually beneficial business relationship. This cooperation agreement is intended to serve as a legally binding contract that governs the terms of this relationship. The Parties shall each appoint a principal representative to act on their behalf on all matters relating to this Cooperation Agreement. I think 2-person projects are ideal. As an individual, I`m too likely to get distracted or bored with the project to make it a success. With a partner, there is built-in accountability, and we can complement each other with our broader set of skills and capabilities. .