So you're getting ready to enter into a business arrangement. Before creating a detailed contract, you can use a Cooperation Agreement to outline the terms of your preliminary agreement. It can help you settle on the most important points to include in the contract so you can get closer to the final deal.
A Cooperation Agreement is a formal business document outlining the basic terms of your agreement with another individual, group or entity. Also called a Memorandum of Understanding, it's one of the first steps toward a more detailed contract. It shows that there's an understanding between your two parties, a mutual desire to work together on an agreed-upon goal. Your Cooperation Agreement should include details like: the names of the parties involved; the purpose, goals and objectives of this agreement; the date and initial term of the agreement; each party's responsibilities; any additional warranties or promises; how many days each party has to correct any problem; who will own any intellectual property created by either party; whether both parties can be excused from obligations due to causes beyond their control; any arbitration, assignment, and non-disclosure clauses; and more. We're here to help you get it done, step by step.
Other names for this document: Agreement of Cooperation, Partnership and Cooperation Agreement, Business Cooperation Agreement
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