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.
South Carolina 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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FAQ
A Joint Venture (JV) Agreement is a contract between at least two business entities or individuals entering into a temporary business relationship. By joining forces, the parties hope to achieve a mutual goal.
The shareholders' agreement and articles of association are key to the success of a joint venture. The shareholders' agreement outlines the relationship between the shareholders, covering topics such as: the object and scope of the venture.
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).
PAN Cards: PAN cards of all parties involved in the joint venture. Bank Details: Bank account details of all parties, including cancelled cheques. Memorandum of Association: A document that outlines the purpose and objectives of the joint venture, as well as the rights and responsibilities of each party.
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.)
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.
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.
An agreement (written or oral) between the parties manifesting their intent to associate as joint venturers. Mutual contributions by the parties to the joint venture. Some degree of joint control over the single enterprise or project. A mechanism or provision for the sharing of profits or losses.