Overview of a Project Collaboration Agreement
What is a Project Collaboration Agreement?
A Project Collaboration Agreement is a contract between two or more companies for the completion of a particular project.
A Project Collaboration Agreement documents the contribution of each party to the project and sets out the terms of the collaboration between the parties, including each party’s obligations, the project funding, the treatment of confidential information, and how the collaboration can be terminated.
A Project Collaboration Agreement allows businesses to expand their client base and tap into new markets by partnering with other organisations, and can address skill or resource gaps.
Key points included
- Details of the joint project;
- Input to the joint project from each party;
- Collaboration period;
- Payments by each party;
- Invoicing arrangements;
- Details and duration of confidential information that must be protected;
- Non-solicitation period for the employees, consultants, and subcontractors involved in the project; and
- Termination arrangements.