What is a Collaboration Agreement?
A Collaboration Agreement is an agreement between two parties looking to work together on a project. The agreement covers the important aspects of the working relationship, including the contributions of each party, share of profits, confidentiality, and Intellectual Property rights.
This contract allows two parties to combine resources and expertise. It can help you to enter new markets, deliver new products, pursue larger or more complex projects, grow your audience, or achieve a competitive advantage.
What You Get
Do I need a Collaboration Agreement?
Yes, we recommend you have a proper contract in place if you’re going to collaborate on a project with someone else. Before you kick off your collaboration, you should discuss what each party is bringing to the table and then document the contributions in a contract.
A Collaboration Agreement helps to bring together the important terms of your collaboration, such as deliverables, exclusivity, dispute resolution and termination. A formal contract helps to manage the expectations between the parties.
Frequently Asked Questions
Here are some issues we often see in collaboration projects:
- Someone who isn’t pulling their weight on the project is demanding an equal share of the profit
- One of the contributors wants to use their work in another project
- Another contributor wants to leave, and wants their work taken out
- A third party sues you over something that one of the collaborators put in the project
A Collaboration Agreement will help you to avoid these issues. It gives clarity to everyone involved on responsibilities and obligations under the agreement.
Every situation is different, which is why you need expert advice from a commercial lawyer. We’re small business specialists, so you know you’re in safe hands with us.
We’ll consider your unique situation and let you know if we think this is right for your business.
Our head office is at Inspire Cowork – a coworking space in Sydney – but we also support flexible work for our team. Our lawyers can work from anywhere.
We use technology to come to you, wherever you’re located around Australia. Many of our clients work from home or at coworking spaces, just like us.
We communicate with our clients via phone, email and Zoom – whatever works best for you. There’s no need to meet face to face, but if you’re ever in the area you’re welcome to drop in!