Research and Development (R&D) agreement template will be useful for the people who search for the outline of R&D agreement. It will usually be needed by the two parties who wish to get the mutual cooperation in order to research and develop something. It is not a type agreement commonly made by just anybody as it will be something more specific and specialized for business.
There are two types of this type of agreement, the ordered R&D and the joint R&D. The ordered R&D refers to an agreement to overtake a research and development for one principal. This type of agreement is considerably similar to subcontract considering the existence of hierarchy between the two parties. The second type refers to the agreement of cooperation to research and develop on an equal ground. It means that both parties have equal rights and obligations.
Who Will Need R&D Agreement?
R&D agreement is a very specific type of agreement that will usually be done by the people of business such as international businesses.
- A party that will give the right to continue or taking over a particular research and development.
- A party that will accept the right to continue or taking over a particular research and development.
- Two or more parties that will join a project of research and development together.
What Will Be Covered in R&D Agreement?
R&D agreement is a serious matter. Therefore, it requires more attention in explaining every important point related to the agreement. Most importantly, all parties involved in the agreement have agreed on everything will be written in the R&D agreement. Basically, the followings are important to be included:
- The information on the involved parties.
- Contribution by every party in inventions – includes the description and the origin.
- Contribution by every party in the rights of property – includes description nd also origin.
- The right to exploit the contributions into the particular extent.
- The description of the right to the results of research and development.
- The right for the parties involved in research and development in exploiting, using, selling and producing the results of R&D.
- Possibility of licensing.
- Duties and prohibitions
- Exploitation by third parties will be allowed or not.
R&D agreement is very crucial for business. It is one important thing to arrange everything clearly so that everyone will not act out of the border. People can get greedy over something and this agreement will prevent that from happening. If you are looking for a sample that you can start with, you can download the agreement below. It needs Microsoft Word to open the file.