The Research Funding Agreement serves as a crucial legal instrument in the Philippine research and development landscape, establishing the framework for financial support of research activities. This document is essential when organizations or institutions provide funding for research projects, whether in academic, scientific, or commercial contexts. It must comply with Philippine legislation, including the Technology Transfer Act (RA 10055), Data Privacy Act, and relevant research regulations. The agreement typically covers funding terms, research scope, intellectual property rights, reporting requirements, and compliance obligations. It's particularly important for protecting both the funder's and researcher's interests while ensuring transparency and proper utilization of research funds within the Philippine legal framework.
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Key Requirements PROMPT example:
Research Funding Agreement
"I need a Research Funding Agreement for a three-year pharmaceutical research project starting March 2025, where ABC Pharma Corporation will provide 鈧10 million funding to the University of Manila, with specific provisions for patent rights and potential commercialization of research findings."
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OR
1. Parties: Identification of the funding entity and research institution/recipient
2. Background: Context of the research funding arrangement and relationship between parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Research Project Scope: Detailed description of the research project, objectives, and deliverables
5. Funding Terms: Amount, payment schedule, and conditions for funding disbursement
6. Project Timeline: Project duration, key milestones, and delivery dates
7. Use of Funds: Permitted uses of funding and restrictions on expenditure
8. Intellectual Property Rights: Ownership and management of IP created during the research
9. Reporting Requirements: Financial and technical reporting obligations
10. Compliance and Ethics: Research ethics, regulatory compliance, and required approvals
11. Confidentiality: Protection of confidential information and research data
12. Publication Rights: Terms governing the publication of research results
13. Termination: Conditions and process for early termination
14. General Provisions: Standard legal provisions including governing law, notices, and amendments