Collaboration Agreement

A Collaboration Agreement is a document to use when two or more parties decide to work together on a project or foster a common objective. Parties to this agreement are called collaborators as they come together and pull their resources to do something.

This document is similar to the Joint Venture Agreement or Partnership Agreement because the agreements involve two or more parties working together on a common purpose. However, this document is different from a joint venture and partnership arrangement because, in these agreements, the parties collaborate to create a new business venture.

However, this document is used when parties intend do not necessarily want to establish a business, and it is usually for smaller projects. Also, in a collaboration, each party exercises complete control over the contributions they make as each maintains their separate entities.

For example, Mr. A, an event planner, decides to collaborate with Mr. B, a vendor, to plan a wedding. Both Mr. A and Mr. B have separate businesses they run and decide to pool their resources for the wedding ( a project). After the project, both parties will share their profit and go separate ways.

This document is used to regulate the relationship of parties working together. It gives parties an elaborate description of the project they are working on and how the project should be executed. It also describes the contributions of the parties and how profits and losses from the project will be shared among the parties. It addresses possible issues that may arise between the parties and describes how disputes between the parties can be managed.

How to use this document

This document should be used when parties want to work together on any project and want to have a written agreement to outline the terms of their transaction.

In this document, the parties will describe:

• the nature of the collaboration

• their duties towards its execution

• information about how the parties will share profits from the collaboration; and

• each party's expectations.

After completing this document, it should be signed by all the parties, and each party should keep a signed copy of this document for record purposes.

Applicable law

The laws regulating this agreement will depend on the type of collaboration the parties have agreed to. However, the general rules of contract apply to this document.

How to modify the template

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.