The Parties agree that an independent consultant shall be hired to carry out a risk assessment prior to beginning any work related to this collaboration agreement. No additional partners or subcontractors shall be hired or procured without prior written approval from both parties. Any remaining profits or proceeds shall be distributed equally amongst the parties to this collaboration agreement.This includes the above referenced excess capital contributions from either of the involved parties, as well as any overhead costs associated with the project, such as compensation for managers, consultants, subcontractors, or equipment. Any shared financial obligations shall be repaid using the proceeds from the collaboration’s efforts.Profits and ProceedsĪll profits, proceeds, and other returns related to this collaboration agreement shall be distributed in the following manner: Instead, the capital shall be considered a loan and shall be repaid from the proceeds from the collaboration’s efforts. Should one party provide additional capital above and beyond their equal share, that capital shall not grant them additional interest or control over the collaboration. Should outside funding or credit be required to support the achievement of the above listed objectives, the Parties agree to procure such credit jointly, and share in the responsibility to repay such debt. The Parties shall equally share any financial burden, obligation, or direct costs associated with this collaboration agreement. This includes providing personnel and financial resources to obtain additional personnel for the purpose of achieving the above listed objectives.
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The Parties shall equally share any staffing responsibilities related to this collaboration agreement. The following individuals have been appointed as chosen primary representatives for their respective employers: It is mutually understood that the Parties shall make every effort to ensure that all involved parties are fully aware of any pertinent facts related to the above listed objectives for the duration of this collaboration agreement.Ĭhosen primary representatives shall be responsible for keeping their respective employers abreast of any developments related to this collaboration agreement.
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#Sample mou for business collaboration full#
The Parties shall each nominate a primary representative to act on their behalf in all matters related to this collaboration agreement.Ĭhosen primary representatives shall be vested with the full ability to make decisions on behalf of their respective employers. Service eligibility, service nature, and any and all financial matters related to the above listed objectives. The Parties wish to combine their resources to accomplish the following:Īuthority and Representation Joint DecisionsĪny and all significant decisions regarding this collaboration agreement require approval by all involved parties.ĭecisions will include, but not be limited too any and all decisions in regards to This collaboration agreement is intended to serve as a legally binding contract governing the terms of that relationship. (Party A) and (Party B), collectively known as the “Parties” each desire to enter into a mutually beneficial business relationship.