What are the key elements of a collaboration agreement?

What are the key elements of a collaboration agreement?

A collaboration agreement typically includes the purpose, roles, responsibilities, and terms of the partnership.

How do I define the roles and responsibilities?

You can define roles by outlining each party's contributions, tasks, and expectations clearly in the agreement.

What should I include about intellectual property?

Include clauses that specify ownership rights, usage rights, and how any jointly created IP will be handled.

Are there any common pitfalls to avoid?

Yes, common pitfalls include vague language, lack of dispute resolution mechanisms, and not addressing exit strategies.