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What is coworking space? In the simplest sense, coworking space is an environment that's designed to accommodate people from different companies who come to do work. Coworking space is characterized by shared facilities, services, and tools.
Coworking spaces provide positive work environments that allow workers to share tools, services, and facilities. Studies show that coworking results in 70% of members becoming healthier, 68% of members being better focused, and 64% of members completing tasks in a more timely manner.
A coworking agreement is a service agreement document that defines and outlines the duties and legal rights of the coworking space provider or company and the individual member or business that is using the coworking space.
Companies that utilize coworking spaces have the ability to use a specific number of desks or an allotted work area and typically share the space with other short-term users. The terms of the coworking agreements themselves are short, ranging from month-to-month to a specified term of upwards of five years.
Co-Working Agreements vs. The biggest difference in these two types of agreements is a lease gives a tenant more control, such as exclusive possession of a space. But in co-working agreements, the licensor maintains control, and the ?tenants? must share their workspace and all the amenities.