This co-development agreement is for use by two companies who are looking to enter a relationship to develope a common technology that can be used by both companies. The agreement covers the purpose of the agreement in more exacting terms, as well as the mutual covenants to the agreement.
Massachusetts Co-Development Agreement
Category:
State:
Multi-State
Control #:
US-TC0511
Format:
Word;
PDF;
Rich Text
Instant download
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How to fill out Co-Development Agreement?
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FAQ
Joint ownership of intellectual property refers to the sharing of intellectual property (IP) rights to a particular invention between two or more parties. It usually occurs as a result of two or more people co-inventing a patentable product, creative work, design, or concept.
Most student research projects stem from ideas given by the manager. Such ideas are a type of background IP where the University may claim ownership in case a patentable invention is formed. Other examples of established or background IPs may include data bases or computer algorithms.
A joint development agreement (JDA) sets the terms for two or more parties working together to develop a particular product or technology. The JDA is typically negotiated before or during the working relationship. Intellectual property is often a key issue in a JDA, so the agreement should clearly state who owns what.
Your IP goals should align with your business strategy and vision for the joint venture. The following IPs are important to consider in a Joint Venture (JV), Background and Foreground IPs. The Background IP is the IP that each joint venturer owns before entering the JV.
?Background IP?: The technology/IPR that each party contributes to the development. ?Developed IP?: The technology/IPR created as a result of the collaborative effort. ?Derivative IP?: Modifications to or derivatives of Background and Developed IP created by the parties either solely or jointly.
Co-development agreements establish which company owns which aspect of the intellectual property in question. With ownership comes responsibility for patent prosecution and mounting defenses against allegations of IP infringement.
Background IP is any intellectual property that existed before the contract started, and the parties own.