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Proof Of Concept Agreement Template for Singapore

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Key Requirements PROMPT example:

Proof Of Concept Agreement

"I need a Proof of Concept Agreement for testing our new AI-powered financial analytics software with a major bank in Singapore, starting March 2025, with strict data protection provisions and clear success metrics for potential full deployment."

Document background
The Proof of Concept Agreement is essential when organizations wish to validate a technology solution's feasibility before full implementation. This agreement, governed by Singapore law, provides a structured framework for conducting controlled trials while protecting both parties' interests. It typically includes detailed specifications of the concept to be proven, success criteria, resource commitments, and intellectual property provisions. The agreement ensures compliance with Singapore's regulatory requirements while managing risks associated with testing new technologies.
Suggested Sections

1. Parties: Identification of contracting parties with full legal names and addresses

2. Background: Context of the POC, objectives, and general purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Scope of POC: Detailed description of what will be tested/proven, success criteria, and deliverables

5. Duration: Timeline for the POC, including start and end dates

6. Intellectual Property Rights: Ownership and usage rights of pre-existing and newly created IP

7. Confidentiality: Protection of confidential information exchanged during the POC

8. Termination: Conditions for early termination and consequences

Optional Sections

1. Payment Terms: Financial arrangements and payment terms for the POC if not provided free of charge

2. Data Protection: PDPA compliance provisions for handling personal data during the POC

3. Resource Commitments: Specific commitments regarding personnel, equipment, or facilities to be provided by each party

4. Third Party Rights: Provisions governing the rights of third parties under the agreement

Suggested Schedules

1. Technical Specifications: Detailed technical requirements and specifications for the POC

2. Success Criteria: Detailed metrics and benchmarks for evaluating POC success

3. Project Timeline: Detailed timeline with milestones and deliverables

4. Data Processing Agreement: Detailed terms of data handling and processing if personal data is involved

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

















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Industries

Contract Law (Chapter 2): Primary legislation governing the formation and enforcement of contracts in Singapore, essential for basic contract validity and enforceability

Electronic Transactions Act (Chapter 88): Governs electronic transactions and digital agreements, particularly relevant if the POC agreement is executed electronically

Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data; crucial if the POC involves processing of personal information

Copyright Act (Chapter 63): Protects original works and intellectual property rights, particularly relevant for software and documentation created during POC

Patents Act (Chapter 221): Governs patent rights and protection, important if the POC involves patentable innovations or existing patents

Trade Marks Act (Chapter 332): Protects trademarks and brand elements, relevant if the POC involves use of trademarked materials

Trade Secrets Law: Common law protection for confidential business information and trade secrets shared during the POC

Computer Misuse Act (Chapter 50A): Addresses cybersecurity and computer crimes, relevant for technology-based POCs and data security

Cybersecurity Act 2018: Provides framework for protection of critical information infrastructure and cybersecurity standards

Technology Risk Management Guidelines: Regulatory guidelines for managing technology risks, particularly important if the POC involves financial sector applications

Competition Act (Chapter 50B): Ensures compliance with competition laws and prevents anti-competitive practices

Consumer Protection (Fair Trading) Act: Protects consumer interests and ensures fair trading practices, if applicable to the POC

Companies Act (Chapter 50): Governs corporate authority and capacity to enter into contracts, relevant for verifying signing authority

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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