![]() Information regarding the stamp duty payable can be found on the State government websites. Each state in India has provisions in respect of the amount of stamp duty payable on such agreements. The value of the stamp paper would depend on the state in which it is executed. Once the Memorandum has been completed, and if it is a binding document, it should be printed on non-judicial stamp paper or e-stamp paper and signed by all the parties to the Memorandum and dated. ![]() For example, if one Party is going to obtain information about relevant costings for the Project, while another Party will obtain information about appropriate marketing strategies, then these responsibilities can be described in the document. If the Parties have specific responsibilities in relation to the Project, then the details of those responsibilities can be included as well. Record the details of each Party, and the Project that they are interested in pursuing. In some cases, parties may also use this as the final agreement, however in some cases, a more detailed specific contract may be more suitable. This Memorandum may be used early in the negotiations between the Parties. In case, the Memorandum is non-binding, the parties may also choose to sign a separate confidentiality agreement that is binding. ![]() This is because in many cases, Parties may not actually be certain about the specific terms which they can agree to, but they still find it beneficial to put something in writing, outlining some broader goals (such as the general nature of the project), and confirming that they will act in good faith in pursuit of those goals.įurther, even in the case of Memorandums which are non-binding, parties may choose to have the obligations on confidentiality as binding since they may be sharing sensitive and confidential information with the other parties in order to enable them to carry out further investigations or due diligence before finalizing all the details of the Project. If it is chosen to be non-binding, the Parties may not actually be legally obliged to comply with it. Often, Parties may sign a Memorandum of Understanding outlining some general agreement, and then will go away and make some further investigations before working out the finer details. In the first case, the Memorandum acts as a general agreement between the Parties which covers the broad understanding of the Parties. This Memorandum can be chosen to be legally binding or non-binding. It is intended as a starting point for the Parties, as it enables them to set out the preliminary understanding between one another and can help them to work towards a more formal agreement. You can modify it and reuse it.This Memorandum of Understanding is for use between two or more Parties that are interested in working together on a particular project. The document is created before your eyes as you respond to the questions.Īt the end, you receive it in Word and PDF formats. When this document is completely filled out, it should be signed by all parties and each party should keep a copy.Ĭollaboration Agreements are not subject to any specific law but will generally be governed by the law of the state selected. Importantly, the parties can also choose who owns any new intellectual property coming out of the collaboration. They will also outline their personal obligations with respect to the collaboration, and decide on how profits and expenses should be shared (if any are received or incurred). In this Agreement, the parties will describe the collaboration, including its title if there is one, purpose and description. This agreement will include everything the parties need. The collaboration can be for any lawful purpose, but these types of documents are used most often in the context of advertising, especially online for social media. This document should be used when two or more parties, whether those parties are individuals and/or businesses, are looking to work on one discrete project together. This Collaboration Agreement is a relatively simple document that will help two or more parties describe their upcoming project. ![]() In a Collaboration Agreement, the most important provisions have to do with the parties' duties and obligations and what is expected of each of them for the project. A Collaboration Agreement, by contrast, is just for one small project, and it's usually a project related to advertising or cross-promotion. In a partnership, the parties are deciding to work together indefinitely. In a joint venture, the parties may be working on something slightly more comprehensive - including new total business ventures or new services. A Collaboration Agreement is much more limited than something like a Joint Venture Agreement or a Partnership Agreement. A Collaboration Agreement is a contract between two or more individuals or businesses who would like to undertake a new discrete project. ![]()
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