Unlike many other corporate agreements, technology-based joint venture and partnership agreements are usually highly customized. While no checklist can contemplate every relevant joint venture or partnership topic, it is possible to list many of the core issues that often present themselves in such settings. This list should be helpful when viewed in that context.
Iowa Checklist for Intellectual Property Partnership and Joint Venture Agreements
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How to fill out Checklist For Intellectual Property Partnership And Joint Venture Agreements?
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The documents required for creating a JV can broadly be classified into three categories: Memorandum of Undertaking (MoU) or Letter of Intent (LoI) Definitive Agreements (depending upon the chosen structure) Other Agreements (such as Technology transfer agreements/BTA etc.)
The common elements necessary to establish the existence of a joint venture are an express or implied contract, which includes the following elements: (1) a community of interest in the performance of the common purpose; (2) joint control or right of control; (3) a joint proprietary interest in the subject matter; (4) ...
Key Elements of a Joint Venture Agreement Business address. ... Joint venture types. ... Purpose of the agreement. ... Names and addresses of members. ... Duties and obligations. ... Voting and formal meeting requirements. ... Assignment of percentage ownership. ... Profit or loss allocation.
A joint venture agreement should include: Cost and profit sharing- how the profits and costs will be shared between the parties. Responsibilities of the parties ? sets out what each party is contributing to the arrangement.
What will each party do, and how will they do it? How will any property (including intellectual property created by the JV) be owned and dealt with? Who will be part of the management team for the JV and what will their obligations include? Also consider the scope of the business and territory of the JV.
IP developed by the JV The default position (assuming that there is no shareholder licence containing a ?grant-back? clause) is that the JV will own any IP that is developed for or by it using its employees or contractors (subject to the terms of the agreement with the contractor).
The parties to the joint venture must be at least a combination of two natural persons or entities. The parties may contribute capital, labor, assets, skill, experience, knowledge, or other resources useful for the single enterprise or project.
Elements of a Joint Venture Agreement Parties or Co-ventures: A joint venture agreement must identify the parties who have agreed to run a business together. Contribution of each party: A joint venture agreement shall identify how much money, time and such other essentials each party will invest.