The Collaboration Agreement Explained

Standardized Legal Documents The Collaboration Agreement Explained

The Easiest Way To Draft a Collaboration Agreement

Creating legal documents by yourself is a tiring task. From figuring out what to include in the agreement to drawing it up—you can expect a bumpy ride. Luckily, we can help!

We’ll explain all about the collaboration agreement and walk you through it step by step!

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What Is a Collaboration Agreement?

A collaboration agreement is a contract signed between parties working on a specific project together.

If you’re participating in a commercial project with other partners, you’ll find the collaboration agreement especially useful. It determines the duties and responsibilities of the involved parties.

The collaboration agreement should define the working arrangement between the participants and include the details of the revenue distribution.

The agreement also helps avoid any confusion regarding confidentiality or contract termination issues.

Is a Collaboration Agreement Legally Binding?

The collaboration agreement is a legally binding contract. Once you finish writing the agreement, you will have to:

  1. Make sure everyone agrees on the terms set in the contract
  2. Get all the parties to sign it

Signatures automatically make the agreement enforceable.

How Can I Get the Collaboration Agreement Notarized?

Notarizing a collaboration agreement isn’t mandatory, but it may provide additional security should any legal issues or disputes arise.

You can visit a notary or opt for an easier method and get your agreement notarized online.

How To Write the Collaboration Agreement

To draw up a valid collaboration agreement, add the following clauses to it:

ClauseWhat To Do
PartiesStart by stating the full names of the parties involved in the agreement. Follow it up with relevant info, such as: 

  • Addresses
  • Contact details

You should add the effective date of the agreement as well

Collaboration goalBe clear on the overall goal of the collaboration. Include the specifics of how the parties plan to reach that goal and distribute the revenue
Projects and project schedulesProvide a full description of the project and how the specific tasks will be executed. Specify all expenses and who should cover them
ConfidentialityState that no information about the project can be leaked to anyone outside the agreement. Having a confidentiality clause isn’t mandatory, but it protects sensitive data if one of the party drops out of the project
TerminationDefine what steps a party should take to terminate the agreement early. Explain the conditions, whether a notice should be given, and what happens if anyone fails to give it

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All you have to do is provide us with info about the agreement you want, and we’ll use the specifics to draw up your contract. Follow these instructions to get your agreement:

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  3. Answer a few questions about you and your agreement

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DoNotPay also offers step-by-step guides for various other contracts! Check out the list of our customizable contract templates alongside the ones we demystify for you:

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You’ll be able to go through the entire notarization process from the location of your choice, and you won’t have to do anything in person! A notary will witness the signing procedure in a video meeting and provide his or her signature digitally. The best part is that you can schedule your appointment with a remote notary at any time since our service works 24/7.

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