JOINT VENTURE AGREEMENTS
ie 'COLLABORATIVE RESEARCH AGREEMENT'
ie 'SPONSORED RESEARCH AGREEMENT'
Collaborate to obtain access to expertise and⁄or facilities not available within the company
- Facilitate R&D
- Secure⁄enhance competitive advantage
- Shorten time to market
- Enable ownership of arising IP
- Provide additional avenues to perform research (faculty & students)
- Offer career opportunities for students
A joint venture is a form of alliance between two separate companies. There are two fundamental forms of joint venture, the equity joint venture and the contractual venture.
The equity joint venture is an arrangement whereby a separate legal entity is created in accordance
with the agreement of two or more parties.
The contractual joint venture might be used where the establishment of a separate legal entity is not needed or where it is not possible to create such an entity. The different legal methods for the commercial transfer and acquisition of technology can be used in either form of joint venture arrangement.
KEY ELEMENTS
- Statement of objectives, which explains what the parties want to accomplish together and why their collaboration is important
- Statement of work, which explains the research plan, outlining approaches and methodologies, specifying who will be responsible for work product, and delineating time frames, benchmarks, and delivery dates
- Work plan that specifies what each party will be expected to contribute, how necessary changes to the work plan will be made, and how communication between the parties is to take place
- Dispute resolution plan, which explains procedures and mechanisms that would be used in turn, should a dispute arise
EXAMPLES
KAGAN:
UI: