Consortium Agreement D (own IP of results each party creates)
Publisher one
Lambert ToolkitSource file
Jurisdiction
England and WalesContract party
Relevant sectors
Type of legal document
💼 Consortium AgreementBusiness activity
Create a consortiumA consortium agreement is a contract between two or more parties who agree to cooperate on a project or venture. The agreement sets out the terms of the relationship between the parties, and the roles and responsibilities of each party. The agreement may also include provisions for the sharing of resources, and the division of profits.
Typically used in collaborative research or development projects, this agreement helps establish a clear understanding of how the ownership, rights, and usage of intellectual property arising from the consortium's activities are allocated among its members.
The template includes provisions that define what constitutes "results" and specifies whether these refer to inventions, discoveries, software, data, know-how, or any other creations. It sets out the necessary requirements for identification, evaluation, and notification of these results, ensuring transparency and accountability within the consortium.
Moreover, the template provides guidelines for determining the ownership of IP, clarifying whether it will belong to the party that has created it or whether shared ownership or licensing arrangements are possible. It may also address issues related to third-party rights, confidentiality, disclosure obligations, and the licensing or transfer of IP rights.
This legally binding document operates within the framework of UK law and takes into account relevant intellectual property legislation, such as patent law, copyright law, and trade secret protection. Its purpose is to safeguard the interests of consortium members and establish a framework for fair and efficient management of intellectual property generated during the collaborative project.
Users of this template are encouraged to adapt it to fit their specific needs, including tailoring provisions related to dispute resolution, liability, indemnity, and termination clauses. Seeking legal advice from an experienced professional is recommended to ensure compliance with UK law and to safeguard the interests of all consortium members.
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